payment side of cash book was overcast by 5000
Payment side of Cash Book over castes by Rs 5,000, implies that cash balance (to be shown in the Balance Sheet) have reduced. Therefore to rectify the following Journal Entry is passed:
Journal Entry | ||||||
Date | Particulars | L.F. | Debit Amount Rs |
Credit Amount Rs |
||
Cash A/c | Dr | 5,000 | ||||
To Suspense A/c | 5,000 | |||||
(Payment side of Cash Book over castes by Rs 5,000, now rectified) |