debit accounts receivable
credit bank
when chq dishonoured then do this entry.
cr/ bank a/c.
dr/ party a/c.
the entry for Cheque dishonor would be Party A\c dr To Bank A\c
Reverse Entry to be passed for the original Entry
what is the entry if i pay creditors with a cheque and the cheque is not honored
debit dishonoured chequecredit accounts payable
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
Debit rentCredit bank
An dishonored cheque is typically recorded in the journal by debiting the bank account and crediting accounts receivable or the customer's account. This reflects the reversal of the payment that was previously recorded when the cheque was received.
cheque is returned to the party and amount of discounted value of cheque is debited in his account.
debit bankcredit accounts receivable
suman
Debit accounts payable/ expensesCredit bank
BY VENDOR Dr TO BANK Cr