Sundry debtors
Querist : Anonymous
Suppose a civil contractor received a cheque of Rs. 5 lacs, from municipalty on 31/03/2015 for civil construction and get is cashed on 04/04/2015.
Whether on 31-03-2015, the municipalty will be deemed as his debtor, as the cheque has been cashed on 04/04/2015?
Please clarify.
Bank reconciliation will reveal that the same is not credited in bank account as on that date.
Querist : Anonymous
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