Book Entry

Dear All,

Can I pass an entry for cheque return or cancel given before by J.V. i.e. by debiting Bank A/c. and creding Customer A/c. or I should pass it by bank book (receipt) ? 

Thanks in advance..

Replies (4)

yes, you can pass the Receipt entry..........

you must pass Journal only for rectifications...It will Conform to the principal of accounting...

You should pass it through JV in order to make the credit stand in customer ledger a/c . But in case the tranaction is reflected in bank statement then pass both JV and receipt entry

 

Dear Sir,

We have purchased 5 unit of Assets on financed, out of two we sold 2 unit assets to another on finance, now the 

question are,

 

1,  how to make entry  for expense interest on finance of Two Sold Assets because we also sold the Assets on finance.

2, How to execute other entry

Thanking you

Rajesh Chitroda

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