Section (1):
Prepare Credit & Debit slips in the form of journal entries
for the following independent operations that occurred in
Misr bank, Alex branch:
1. Customer Alaa deposited L.E. 350,000 (100,000 in his
current account and the rest in his current account in Misr
bank Aswan branch).
Account Name Dr Cr
Cash 350000
Current accounts 100000
Branches – Aswan 250000
2. The bank sent a 5,500 L.E credit slip to GG Company,
which represents an amount transferred to its accounts
from SS Company through Alex bank, El-menia.
Account Name Dr Cr
Local banks – Alex bank 5500
Current account – GG co. 5500
3. Customer Ramy requested the bank to transfer from his
current account L.E. 200,000 to a customer in Misr
bank, Aswan branch & L.E. 500,000 to his current
account in El-Ahly bank, Zamalek branch.
Account Name Dr Cr
Current account (Ramy) 700000
Branches (Aswan) 200000
Local banks (El-Ahly) 500000
4. Misr bank, Aswan branch received the cash amount
transfer from customer Ramy in the same day.
Account Name Dr Cr
Branches (Aswan) 200000
Cash 200000
1
5. SS Company deposited L.E. 50,000 (L.E. 20,000 cash &
the rest by transfer from GG Company in Misr bank –
Tanta branch) & requested the bank to transfer L.E.
10,000 to AM Company which is a customer in Same
branch.
Account Name Dr Cr
Cash 20000
Branches (Tanta) 30000
Current account (SS) 50000
Current account (SS) 10000
Current account (AM) 10000
6- Customer Attrees deposited L.E. 600,000 in his
current account as follows: L.E. 100,000 cash, L.E.
150,000 by a transfer from Aly who is a customer in
Ahly bank Cairo branch, & the rest by a check drawn
on customer Shady who has a current account in Ahly
bank Cairo branch.
Account Name Dr Cr
Cash 100000
Local Bank (Ahly) 150000
Branches (Cairo) 350000
Current account (Attrees) 600000
7- Checks received from our customers for collection
were L.E. 800,000 as follows: 100,000 L.E. drawn on
our customers, L.E. 300,000 drawn on branches’
customers, L.E. 150,000 drawn on Ahly bank Aswan
branch (we do not have branch in Aswan), & the rest
were drawn on Alex bank Mahla branch (we have
branch in Mahla).
Account Name Dr Cr
Current accounts 100000
Branches (300,000 + Rest 250,000) 550000
Checks under collection 150000
Current accounts 800000
2
8- The bank received a L.E. 79,900 credit slip from the
real estate bank in Asuit which represents the
collection of a L.E. 80,000 check previously sent to it
for collection & the bank charged the customer’s
current account by the commission which the bank
usually shares it equally with its correspondents.
Account Name Dr Cr
Local bank 79900
Current account 200
Checks under collection 80000
Commission revenue 100
9- The real estate bank in Aswan (our bank has no branch
in Aswan) told our bank that the L.E. 25,000 check that
was sent to it in the previous week for collection was
refused. Our bank charged the current account of the
customer who submitted the previous check by a L.E.
200 commission which is equally divided between our
bank & the real estate bank, and our bank sent a credit
slip to real estate bank by its commission.
Account Name Dr Cr
Current account 25000
Checks under collection 25000
Current accounts 200
Commission revenue 100
Local bank 100
Or one entry
Account Name Dr Cr
Current account 25200
Checks under collection 25000
Commission revenue 100
Local bank 100
