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Cash received against bounced cheque

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Querist : Anonymous

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Querist : Anonymous (Querist)
16 November 2012 Person issued a cheque to us and we gave him the receipt for that. The cheque bounced and then he gave us cash of same amount as that of cheque. Should i issue him a new receipt for that and cancel the old one or just keep the cash.Please tell me how to do this as per the accounting rules.


Thanks in advance.
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CMA Ramesh Krishnan

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CMA Ramesh Krishnan (Expert)
17 November 2012 Reverse the cheque entry and pass new Cash receipt entry
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