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what is the journal entry for cheque dishonour
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Answer Posted / guest
BANK A/C DR
TO PARTY A/C CR
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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
Mohan sold goods on 1st sep 2009 for the rs 200000/- to sohan immediatly accepted a 3 month bill.on the due date sohan request for the renewal of the bill for further peirod of two month .mohan agree to pay interest @9% per annum to be inculuded in the new bill . determine the amount of new bill?
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