Here is the journal entry for transferring cash from one company (Company A) to another company (Company B):
Company A (Transferring Company)
Date | Particulars | Debit (₹) | Credit (₹) |
---|---|---|---|
2024-09-25 | Intercompany Receivable A/c | 100,000 | |
To Cash/Bank A/c | 100,000 | ||
(Being cash transferred to Company B) | |||
Company B (Receiving Company)
Date | Particulars | Debit (₹) | Credit (₹) |
---|---|---|---|
2024-09-25 | Cash/Bank A/c | 100,000 | |
To Intercompany Payable A/c | 100,000 | ||
(Being cash received from Company A) | |||
These entries reflect the transfer of cash from Company A to Company B, where Company A records an intercompany receivable and Company B records an intercompany payable.