wahat is the journal entry for cheque paid for collection
but not collected?
- 15 Answers
- 50964 Views
- Infosys, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / albin
firm enters only "sent for collection
ie.bank A/C Dr
To cash
| Is This Answer Correct ? | 41 Yes | 17 No |
Answer / promoth
Cheque paid to party/vendor
Party A/c Dr
To bank a/c
Paid cheque dishonored
Bank A/c DR
To Party A/c
Cheque received but not collected
Bank sub a/c
To party A/c
Cheque sent for collection
Bank A/c Dr
To bank Sub A/c
bank sub a/s is a clearing a/c
Cheque sent for collection dishonored
Party A/c dr
To Bank a/c
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / lakshman
Bank A/c xxxx
To party A/c xxxx
this entry is chq. issued time
But cheque is passed in Bank
this is only for BRS Reconcile
(or)
Chq. Return entry
party a/c xxxx
to Bank xxxx
| Is This Answer Correct ? | 6 Yes | 4 No |
Answer / surya
If you give a cheque to your vaedor but vendor is not incash the cheque,The entry will be.
Vendor Account DR.
To Sub bank Account.
After conformation from bank that cheque is in-cash then,
Sub-Bank acct dr.
to main bank acct. cr.
finally:
Vendor account dr.
to main bank acct ..cr
In this way companies are maintain their account book and reconcile with the bank book......
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / ilangovan
Customer A/c Dr.
To Bank Cr.
Bcoz when we were presented the cheque to banker at that
time we had passed one entry i.e
Bank A/c Dr.
Customer A/c Cr.
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / praveen singh
When check sent for collection entry will be:
Bank Account Dr. xxxx
To Cash Account xxxx
When check not collected, entry will be:
Accounts Receivable Account Dr. xxxx
To Bank Account xxxx
| Is This Answer Correct ? | 6 Yes | 8 No |
Aptitude Test Questions
What is the definition of manual accounting?
What is Cash Flow Statement?
How to conduct u r interviews?
Define overhead in terms of accounting?
GRIR is the clearing account so it the balance will be zero, so how it will impact with balance sheet and why we require to reconcile that account ?
what type of acounts is share application account
8 Answers KPSC Karnataka Public Service Corporation,
What is menat by INVOICE?
What is corporate assesses?
hello friends i like to know journal entry for one loan transaction ie if you purchase a car for EMI with initial payment how to make first entry & monthly entry any thing is there? pls reply to me.
In which book we can learn in detail of closing stock valuation. And if any site is available kindly help.
what is the difference between pay order and demand draft?
Audit 
