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if the chq is dishonored which entry will be passed????????
give example entry
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Answer Posted / sreedhar
Point No 1.
when received the cheque from Debtor/customer to be
accounted as
Bank account Dr
To Debtor/Customer Account
(Being Chque No XXXX received against bill Number XXXXX)
Point No. 2
if the same cheque dishonored, the above entry to be
reversed
Debtor/Customer account Dr
Bank Charges Account Dr
To Bank Account
(Being instrument No.XXXX Dishonored and Bank Charges
Accounted)
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