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CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000
THE CHEQUE DISSONORED
WHAT ENTERY THIS TRANSACTION

Answers were Sorted based on User's Feedback



CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000 THE CHEQUE DISSONORED WHAT ENTERY THIS TRA..

Answer / rahul mohta

THE FIRST ENTRY WOULD BE:
ABC a/c Dr. 22000
TO BANK a/c 20000
TO DISCOUNT RECIEVED a/c 2000

AFTER DISHONOUR THE ENTRY WILL BE:
BANK a/c Dr 20000 .
DISCOUNT RECIEVED a/c Dr. 2000
TO ABC a/c 22000
(BEING CHEQUE ISSUED TO ABC
DISHONOURED)

Is This Answer Correct ?    0 Yes 0 No

CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000 THE CHEQUE DISSONORED WHAT ENTERY THIS TRA..

Answer / jayadeep h.r

ABC LTD A/C Dr 20,000
To Bank A/c cr 20,000
(For Cheque issue)

Discount A/C Dr 2,000
To ABC LTD A/C Cr 2,000
(For discount)

Bank A/C Dr 20,000
To ABC LTD A/C 20,000
(For Cheques dishonor)

Is This Answer Correct ?    0 Yes 0 No

CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000 THE CHEQUE DISSONORED WHAT ENTERY THIS TRA..

Answer / zahid hussain

BANK DR 20000
DISCOUNT RCVD DR 2000
TO ABC A/C CR 22000

JOURNAL ENTRY

Is This Answer Correct ?    0 Yes 1 No

CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000 THE CHEQUE DISSONORED WHAT ENTERY THIS TRA..

Answer / simar

Bank a\c dr 2000
To discount received a\c 2000

Cheque has been dishonured that's why payment entry will
not be passed.

Is This Answer Correct ?    1 Yes 3 No

CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000 THE CHEQUE DISSONORED WHAT ENTERY THIS TRA..

Answer / hemanta

Bank a/c Dr 20000
Discount a/c Dr 2000
To ABC's a/c 22000

Is This Answer Correct ?    0 Yes 2 No

CHEQUE ISSUED TO ABC 20000 & DISSOUNT RECEIVE 2000 THE CHEQUE DISSONORED WHAT ENTERY THIS TRA..

Answer / t.saravanan

At the time of cheque issue

ABC Dr Rs.20000.00
Bank Cr Rs.20000.00
Bank Dr Rs.2000.00
Discount Cr Rs.2000.00

At the time of cheque dishonur

Bank Dr Rs.20000.00
ABC Cr Rs.20000.00

This question Not showing the discount return.

Is This Answer Correct ?    1 Yes 4 No

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