CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000
THE CHEQUE DISSONORED
WHAT ENTERY THIS TRANSACTION
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Answer Posted / yogesh
At the time of issue
Bank A/c Dr 20,000/-
Discount A/c Dr. 2,000/-
To ABC A/c 22,000
At the time of dishonour (if discount will be allowed in
any case)
ABC A/c Dr. 20,000
To Bank A/c 20,000
At the time of dishonour (if discount will not be allowed
in case of cheque dishonour)
ABC A/c Dr. 20,000
Discount A/c Dr 2,000
To Bank A/c 22,000
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pass journal entries of the following transaction in the books of AG sindh, AGPR,FTO and SBP: 1)DDo sindh house submitted a bill for purchase of furniture to AGPR islamabad for Rs.200000 on 20th March 09; 2)AGPR issued cheque on 2nd april which was cleared by SBP on 5th April; 3)On 26th may, voucher were exchanged in the clearing house; 4)On 28th May, AG sindh issued advise to settlement to SBP karachi; 5)On 5th june,SBP HQ karachi sends a copy of clearnce memo along with bank statement to AG sindh and AGPR for settlement made on 31st May.
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