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wahat is the journal entry for cheque paid for collection
but not collected?








Question Posted / albin

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wahat is the journal entry for cheque paid for collection but not collected? ..

Answer / hari sanku

When cheque issued

Party Account dr
To Bank Account

Any difference in bank account and Cash account will be
found in BRS.

If it is honoured
No need to pass a new entry as we alreday passed one.

If it is dishonoured, Reverse the initial entry:

Bank Account Dr
To Party Account

Is This Answer Correct ?    0 Yes 2 No

wahat is the journal entry for cheque paid for collection but not collected? ..

Answer / dhananjay

account recivable dr.
to, bank

Is This Answer Correct ?    1 Yes 4 No

wahat is the journal entry for cheque paid for collection but not collected? ..

Answer / samarth

There will be 2 entries:

When cheque is sent for collection:
Cash a/c Dr.
To Bank a/c

When cheque is realized:
Bank a/c Dr.
To Cash A/C

Is This Answer Correct ?    0 Yes 3 No

wahat is the journal entry for cheque paid for collection but not collected? ..

Answer / sangeethag

Suspense/undeposited fund a/c Dr. ****
To Debtors ****

when collected the cheque

Bank a/c dr. *****
To Suspense/undeposited a/c

Is This Answer Correct ?    0 Yes 4 No

wahat is the journal entry for cheque paid for collection but not collected? ..

Answer / sr

Cheque collected:

Customer (A/R) Dr.
Bank clearing a/c Cr.

When Cheque is cleared:

Bank clearing a/c Dr.
Bank account Cr.

Is This Answer Correct ?    0 Yes 4 No

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