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Journal entry for cheque issued to ram lal?

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Question added by sukhdeep kaur
Date Posted: 2016/06/27
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Evangelist Masih

 issued a cheque for Rs. 250 to ali in full settlemnet of their account of Rs.300.

SYED KHAJA JAFFER H CHISHTY
by SYED KHAJA JAFFER H CHISHTY , Finance Manager , Lattice Semiconductor (Formerly Silicon Image India)

Below are the entries.

1. When Check is issued.

Dr Ram Lal

Cr Bank Clearing Account

 

2. When check is cleared in bank.

Dr Bank Clearing Account

Cr Bank Account

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