[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
the entry for Cheque dishonor would be Party A\c dr To Bank A\c
You need to check the original journal entry for the check transaction. Then reverse all the original entries by Dr where you initially Cr and vice versa.
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
freight a/c dr to cash
debit accounts receivablecredit bank
Reverse Entry to be passed for the original Entry
[Debit] Bank account xxxx [Credit] Accounts payable account xxxx
the entry for Cheque dishonor would be Party A\c dr To Bank A\c
You need to check the original journal entry for the check transaction. Then reverse all the original entries by Dr where you initially Cr and vice versa.
Compound journal entry is that entry which records more than one business transaction in one single journal entry.
Debit supplies accountCredit bank account
freight a/c dr to cash
There is no journal entry for forecasting sales rather journal entry is made for actual sales when they occur.
If you are the person that is issuing the check then no entry is recorded until the actual date that the check is cashed. If you are the person receiving the check there shouldn't be an entry until the date the actual check is cashed.
what is the entry if i pay creditors with a cheque and the cheque is not honored
Recording of a transaction in an accounting journal, such as the General Journal. The journal entry has equal debit and credit amounts, and it usually includes a one-sentence explanation of the purpose of the transaction is called journal entry.