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Journal entry

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student
83 Points Posted on 04 November 2014
sundry creditors of Sun Ltd. include rs. 2000 due to Moon Ltd. where as Sundry debtors of Moon Ltd. include rs.4000 due from Sun Ltd. It is found that Sun Ltd. has remitted a cheque of rs.2000 , which has not yet been received by Moon Ltd.
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On 04 November 2014 at 20:16 Report
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Manager (Advance)
906 Points Posted on 04 November 2014

Out of this for which thing you need a journal entry?

2 Reply
On 04 November 2014 at 20:58
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Practising CA
8954 Points Posted on 04 November 2014
In the Books of Moon Dr Cheque in Transit 2000 Cr Sun Ltd 2000
30 Reply
On 04 November 2014 at 22:41
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student
83 Points Posted on 04 November 2014
I need journal entry in both books moon ltd & sun ltd. Thanx in advance to entertain my query.
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On 04 November 2014 at 23:36
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student
83 Points Posted on 04 November 2014
I need journal entry in both books moon ltd & sun ltd. Thanx in advance to entertain my query.
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On 04 November 2014 at 23:37
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Accountant
25 Points Posted on 05 November 2014

In the Books of Sun Ltd

Moon Ltd ( Creditor)---- Dr      2000

To     Cheque in Transit                  2000

In the book of Moon Ltd - No entry until cheque is received

 

 

 

 

 

 

 

 

 

 

 

 

 

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On 05 November 2014 at 08:48
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Practising CA
8954 Points Posted on 05 November 2014
You have to make balances in both the books equal at Rs. 2000. In the academic sense , your answer should be what I have commented earlier. No entry in Sun Ltd.
30 Reply
On 05 November 2014 at 22:35
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Chartered accountant
382 Points Posted on 07 November 2014
In sun ltd moon ltd a/c ............dr to bank a/c in moon ltd no entry pass only when cheque is realised
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On 07 November 2014 at 19:00


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