USA Credit union General ledger for deposit


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what will a credit union general ledger look like when a member deposit money in his own account? Will the credit union debit cash and credit deposit (statement)?
 

Samir

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It depends on what type of account the funds held for members is, and how a deposit is accounted for in terms of a credit union (is that income, an ap, an asset, equity?).
 
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kirby

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Credit Union will
DR Cash
CR Member Share account
 

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