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