debit Accounts Payable
credit bank
debit Rent expensescredit bank
DR. Bank (specifying the bank account name) CR. Cheques Under Collection
Debit supplies expensesCredit supplies inventory
When a post-dated cheque is issued, the company records it as a liability until the date on the cheque. The journal entry to record the issuance of a post-dated cheque involves crediting the bank account (decreasing cash) and debiting a liability account such as "Post-Dated Cheques Payable." On the date the cheque is cashed, the company will reverse the initial entry by debiting "Post-Dated Cheques Payable" and crediting the bank account. This ensures accurate tracking of outstanding liabilities and cash flow.
cash book
debit Rent expensescredit bank
Debit prepaid rentCredit bank
DR. Bank (specifying the bank account name) CR. Cheques Under Collection
Debit supplies expensesCredit supplies inventory
When a post-dated cheque is issued, the company records it as a liability until the date on the cheque. The journal entry to record the issuance of a post-dated cheque involves crediting the bank account (decreasing cash) and debiting a liability account such as "Post-Dated Cheques Payable." On the date the cheque is cashed, the company will reverse the initial entry by debiting "Post-Dated Cheques Payable" and crediting the bank account. This ensures accurate tracking of outstanding liabilities and cash flow.
cash book
debit accounts payablecredit bank
debit redemption of debentures accountcredit cash / bank
debit accounts payablecredit notes payable
ISSUED ON THE AXIS BANK CHEQUES
debit cash / bankcredit shares in share capital account
Debit advertisement and promotionCredit cash bank