wahat is the journal entry for cheque paid for collection
but not collected?
Answers were Sorted based on User's Feedback
Answer / albin
firm enters only "sent for collection
ie.bank A/C Dr
|Is This Answer Correct ?||38 Yes||14 No|
Answer / promoth
Cheque paid to party/vendor
Party A/c Dr
To bank a/c
Paid cheque dishonored
Bank A/c DR
To Party A/c
Cheque received but not collected
Bank sub a/c
To party A/c
Cheque sent for collection
Bank A/c Dr
To bank Sub A/c
bank sub a/s is a clearing a/c
Cheque sent for collection dishonored
Party A/c dr
To Bank a/c
|Is This Answer Correct ?||17 Yes||3 No|
Answer / shyam singh rana
to cash a/c
|Is This Answer Correct ?||17 Yes||5 No|
Answer / alka soni
To bank a/c
|Is This Answer Correct ?||7 Yes||1 No|
Answer / dhananjayan
No entry passed as this is a BRS item.
|Is This Answer Correct ?||11 Yes||6 No|
Answer / lakshman
Bank A/c xxxx
To party A/c xxxx
this entry is chq. issued time
But cheque is passed in Bank
this is only for BRS Reconcile
Chq. Return entry
party a/c xxxx
to Bank xxxx
|Is This Answer Correct ?||6 Yes||4 No|
Answer / surya
If you give a cheque to your vaedor but vendor is not incash the cheque,The entry will be.
Vendor Account DR.
To Sub bank Account.
After conformation from bank that cheque is in-cash then,
Sub-Bank acct dr.
to main bank acct. cr.
Vendor account dr.
to main bank acct ..cr
In this way companies are maintain their account book and reconcile with the bank book......
|Is This Answer Correct ?||2 Yes||1 No|
Answer / ilangovan
Customer A/c Dr.
To Bank Cr.
Bcoz when we were presented the cheque to banker at that
time we had passed one entry i.e
Bank A/c Dr.
Customer A/c Cr.
|Is This Answer Correct ?||2 Yes||2 No|
Answer / praveen singh
When check sent for collection entry will be:
Bank Account Dr. xxxx
To Cash Account xxxx
When check not collected, entry will be:
Accounts Receivable Account Dr. xxxx
To Bank Account xxxx
|Is This Answer Correct ?||6 Yes||8 No|
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