journal entry for revalidation of chq
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
07 July 2011
a cheque is issued on 9.12.2010 but the party could not present it in the bank,the cheque is got stale, now the same cheque is revalidate and given to party.
what is journal entry for stale chq and revalidation of chq.
what is journal entry for stale chq and revalidation of chq.
08 July 2011
According to me the validity period of a cheque is six month and after that it can not be utilized.
So according to me the one cancellation entry for previous cheque is made and issue a fresh cheque.
for this one make a reverse entry of the cheque issued earlier and then make another entry for issue a fresh cheque.
So according to me the one cancellation entry for previous cheque is made and issue a fresh cheque.
for this one make a reverse entry of the cheque issued earlier and then make another entry for issue a fresh cheque.
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