Suppose there are three parties A,B and C and I have issued cheques to them respectively of Rs.10000, Rs 15000 and Rs.20000 on 26 th march .Now till 31st march A and B got cleared their cheques but C did not presented and for crediting A's balance', bank credited my account by Rs.100000 instead of 10000 but A,s bank got credited with 10000 only. What entries should I pass on 31 st march for these transactions . Also the bank promised that it will reverse the same till 15th april. Also please tell the entry for this effect in our books if I want to close all accounts on 31st march?
CAclubindia
