if the chq is dishonored which entry will be passed????????
give example entry
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Answer / sandeep
Before a cheque get issued, they will pass a entry saying,
Vendor A/c Dr...
Bank A/c...........
When its been dishonored by bank, the entry will be:
Bank A/c Dr....
To vendor A/c
(no cash fluctuation will hit to both a/'c, the difference between bank and cash a/c will be found through BRS, after passing the reconciliation entry, both the a/c's will get equal...
Thanks,
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / snikgdha
BANK CHARGES A/C DR
TO CUSTOMER A/C
( BEING INSTRUMENT NO....DISHONORED CHQ AND BANK CHARGES.)
Is This Answer Correct ? | 0 Yes | 0 No |
Party Dr. 1.00
To Bank A/c 1.00
(Cheque No…….. Being Cheque return against invoice No./Bill
No…………………….)
Is This Answer Correct ? | 3 Yes | 4 No |
Answer / sreedhar
Point No 1.
when received the cheque from Debtor/customer to be
accounted as
Bank account Dr
To Debtor/Customer Account
(Being Chque No XXXX received against bill Number XXXXX)
Point No. 2
if the same cheque dishonored, the above entry to be
reversed
Debtor/Customer account Dr
Bank Charges Account Dr
To Bank Account
(Being instrument No.XXXX Dishonored and Bank Charges
Accounted)
Is This Answer Correct ? | 0 Yes | 1 No |
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