checks received by the business in the course of business are debited to cash on hand...

  • Thread starter Thread starter -mooshoo-
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-mooshoo-

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...and NOT to cash in bank? dOnt understand... just explain it tO me.. tnx!!
if it's nOt pOssible what wOuld be the entry... directly cash in bank??? even thOugh it wasn't yet depOsited tO yOur accOunt... just RECEIVED the check...
 
that is possible but no one would do that.

if they do that, when they make the deposit they would have to

debit cash
credit cash on hand.

no company would do that because it creates a 2nd entry that is necessary.
 
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