Deposit of cash into State Bank of India of Rs.75,000/- should be debited to
A. Cash account
B. Bank account
C. Capital account
D. Drawings account
Answer:B
Deposit of cash into State Bank of India of Rs.75,000/- should be debited to
A. Cash account B. Bank account C. Capital account D. Drawings account
Explanation: Due to Cash deposits in SBI, Money will flow out of the business i.e. Bank account.