Debit in Credit Control Account and Journalizing Cash

Q: Firstly, I found a debit balance in the creditor control account when I was closing the books of accounts. We opened the discussion with the finance manager and we agreed to pass a journal voucher to correct the entries. Please help us, is this allowed?


Second, is it possible for a person to journalize cash? If no or yes, what are the possible reasons?


1 - Yes it is allowed. Bookkeepers and accountants make corrections through journal entries routinely.

2 - Yes, one can journalize cash. Cash is an asset and must be recorded whenever there is a cash transaction.

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