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Rectification entry
what will be the Correct entry & rectificated entry. "A cheque for Rs 100Receive from Mohan was dishonoured and had been posted to the debit of sales return a/c."
Replies (2)
Mohan A/c should be debited and sales return a=c should be credited
Correct Entry(at the time of dishonour):
Mohan A/c Dr.
To Bank A/c
Wrong Entry:
Sales Return A/c Dr.
To Bank A/c
Rectified Entry:
Mohan A/c Dr.
To Sales Return A/c
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