cheques received from Sailendra not deposited on same day-journalise-
Ans- Cheque in Hand A/c Dr, To Sailendra A/c (as per self evaluation test-CD -fundamentals of accounting)
whereas in the Accounts text book, Page 2.73, illustration 3, journal entries for chq received are -
Cash Book (Cash Column) Dr, To Customer's A/c, (on the date of receipt ) , then
Bank A/c Dr, To Cash Book (Cash Column) , & then, Cash Book (bank Column) Dr, To Cash A/c (on date of deposit). pl guide/explain how different / conflicting advice is given in Accounts text book & CD of ICAI.
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