Interested to Buy Any Domain ? << Click Here >> for more details...
CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000
THE CHEQUE DISSONORED
WHAT ENTERY THIS TRANSACTION
- 16 Answers
- 18232 Views
- IBM, OPI Global, I also Faced
- E-Mail Answers
Answer Posted / 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
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
what is tax deducted at source
when & how interest on unsecured loan is calculated?
Ledger Enteries
What is tds and how it is calculated?
HOW TO FILL PURCHASE RETURNS IN VAT 200,IF NOT PURCHASES THE PERIOD?
i want to wearies heads under direct expenses and indirect expenses
Define scrap value in accounting?
What are the 4 phases accounting?
What is compound journal entry?
What is a trial balance in accounting?
How the MIS format made up in XL.
What are the functions of manger -accounts and manager-finance?
sir i want know how to fill vat return
Dear Sir, Tomorrow i am going for interview at TCS-Mumbai.Please let me know what kind of question are going to be asked.
Tell me deferred taxation is a part of which equity?
