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