Cash received against bounced cheque
This query is : Resolved
Querist : Anonymous
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.
Thanks in advance.
17 November 2012
Reverse the cheque entry and pass new Cash receipt entry
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