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 ?

Shyam Lal Naik (Expert)
15 August 2009


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

CA. Gurdeep Singh Chawla (Expert)
15 August 2009

reverse entry

CA Binal Shah (Expert)
17 August 2009

reverse entry.

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