Answer / r.bhaskar rao

If cheque was dissonored, the party ABC account is credited
by RS.22,000 and bank account is debited by RS.20,000 and
also discount received account is debited by Rs.2,000

Answer / deeak rawat

Abc DR
Bank Account CR
Discount CR

If Cheque Dishonered

Bank Charges DR
Bank Account DR
Abc CR

Answer / muthyalu

abc a/c dr
dissount a/c dr
p/nl a/c

Answer / r kaduruvelu

THE FIRST ENTRY WOULD BE:
ABC a/c Dr. 22000
TO BANK a/c 20000
TO DISCOUNT RECIEVED a/c 2000

AFTER DISHONOUR THE ENTRY WILL BE:
cheque dishonoured a/c Dr 20000
DISCOUNT RECIEVED a/c Dr. 2000
TO ABC a/c 22000
(BEING CHEQUE ISSUED TO ABC
DISHONOURED)

Answer / max

Entry from the Issuing Party Debit Credit
Accounts Payable - ABC 20,000.00
Cash in Bank 20,000.00
To record payment to ABC

Purchased Discount 2,000.00
Miscellaneous Income 2,000.00
To record discount received upon payment

ABC Party Entry
1.Cash 20,000.00
Accounts Receivable 20,000.00
To record Cheque Collection

2.Sales Discount 2,000.00
Cash 2,000.00
To record cash payment of Sales Discount
3. Accounts Receivable 20,000.00
Cash 18,000.00
SAles Discount 2,000.00
Cheque collection uncleared at Bank

Answer / rakesh kumar

abc company a/c dr 22000
to bank a/c 20000
to discount receive 2000


bank a/c dr 20000
to abc company a/c 20000

Answer / mohd rashid

at the time of issuing cheque to party


abc a/c dr 22000
to bank a/c cr 20000
to dis received 2000

and when cheque dissonored

bank a/c dr 20000
dis received a/c dr 2000
to abc cr 22000

Answer / kanwarpal

cheque issue entry:-
ABC A/c Dr - 18000
Bank a/c cr - 18000

Discount entry:-
ABC a/c DR- 2000
Pur Disc CR- 2000

Cheque Dissonored entry:-
Bank a/c Dr-18000
ABC a/c CR-18000
Bank A/c CR (Chq Dissonored chg)for example 100/-
Bank Chg A/c DR (Chq Dissonored chg) for example 100/-

Answer / 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

Answer / sarin mohan

ABC A/C DR 22000
TO BANK A/C 20000
TO DISCOUNT RECIEVED 2000

When the CHEQUE DISSONORED the entry is
BANK A/C DR 20000
DISCOUNT RECIEVED DR 2000
TO ABC A/C 22000

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