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In bank reconciliation cheque deposited in to bank and cheque get cancelled so what will be the journal entry for that?

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Question ajoutée par ANNU RAI , Accountant/ ca internship , Jv mehta and co. (Ca firm sion)
Date de publication: 2017/05/31
Amer Mughrabi
par Amer Mughrabi , Financial Controller , Monitoring and Control Centre

Dr. Chqs Recieved / Account Recievable

Cr . Bank Account

 

Depends to which account you used when you make the deposit entry

Majeeduddin Mohammed
par Majeeduddin Mohammed , Sr. Accountant , Creative Closets (A Member of Maan Al-Jasser Group)

If you are asking about the customer cheque received as payment then the initial journal entry when you depositted current dated cheque in the bank will be " Bank a/c - Debit & customer (Receivables)- Credit" but if the cheque get rejected due to any issue will be recorded as " Receivables - Debit & Bank - Credit". 

Mohamed Ahmed Ibrahem Matter
par Mohamed Ahmed Ibrahem Matter , Account Manager , شاديباك للعبوات الغذائيه والدوائيه

chq under coll

         bank

 

 

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