Accounting JAMB

What is the effect of transaction when cash is paid into the bank?

A. Bank balance decrease and cash balance increase
B. bank balance decrease and cash balance decrease
C. cash balance increase and bank balance increase
D. cash balance decrease and bank balance increase

Correct Answer:

Option D – cash balance decrease and bank balance increase

Explanation

Cash balance decrease and bank balance increase: The cash as leaving the cash till and will be deposited into the bank

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