cheque dishonour
This query is : Resolved
14 August 2009
what is the journal entry of dishonour of cheque in the books of both issuing & receving party ?
15 August 2009
Sir,
It will be the reverse entry.
Issuing party : -
Bank dr
To Party/Expenditure A/c as the case may be
Receiving Party :-
Party/Income A/c as the case may be Dr
To Bank
It will be the reverse entry.
Issuing party : -
Bank dr
To Party/Expenditure A/c as the case may be
Receiving Party :-
Party/Income A/c as the case may be Dr
To Bank
15 August 2009
reverse entry
17 August 2009
reverse entry.
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