CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000
THE CHEQUE DISSONORED
WHAT ENTERY THIS TRANSACTION
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Answer Posted / zahid hussain
BANK DR 20000
DISCOUNT RCVD DR 2000
TO ABC A/C CR 22000
JOURNAL ENTRY
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ABC LTD IMPORTED GOODS FROM USA FOR $20000 ON 1/1/11 AT A EXCHANGE RATE OF RS.47.55. THEY MADE A PAYMENT OF $12000 ON 15/1/11 AT A RATE OF RS.45.95. BALANCE PAYMENT WAS MADE ON 25/1/11 AT A RATE OF RS.49.10
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