0
What else can I help you with?
Journal entry for Payment of credit purchase by a Cheque?
BY VENDOR Dr TO BANK Cr
What is journal entry passed on payment by cheque to vendor?
[Debit] Accounts payable xxxx [Credit] bank account xxxx
What is an entry for bounced cheque?
Bounced cheque entry is the reversal of original entry of cheque deposit as follows: [Debit] Cash account [Credit] Bank account
What is the journal entry for Issued cheque in favour of Mr jain and bro and discount allowed by them?
The journal entry for issuing a cheque in favor of Mr. Jain and Bro, along with the discount allowed, would involve two components: recognizing the payment and recording the discount. The entry would be: Debit: Mr. Jain and Bro (Accounts Payable) - Amount of the cheque Credit: Bank/Cash - Amount of the cheque Credit: Discount Allowed - Discount amount This reflects the reduction in liability due to the payment and the expense incurred for the discount.
What is the journal entry for Milk purchased by issuing cheque?
The journal entry for milk purchased by issuing a cheque would be recorded as follows: Debit: Milk Inventory (or Purchases) account for the amount of the purchase Credit: Bank (or Cash) account for the same amount This entry reflects the increase in inventory (or purchases) and the decrease in cash due to the payment made via cheque.
What is the journal entry payment of electricity bill by cheque?
debit electricity billcredit bank
What is the journal entry of cheque you received from your cliant as payment?
debit bankcredit accounts receivable
What is the journal entry for cheque received towards payment from customer?
Debit bankCredit accounts receivable
What is the journal entries of cheque cancellation?
Party a/c.... Dr Bank a/c.....Cr If we issue a cheque we would have passed an entry (debit the receiver/firm & credit the bank) that entry should be reversed (debit bank & credit the firm).
When a cheque received in the last week of a month and dishonored in the next month what will be the entry?
When a cheque received in the last week of a month is dishonored in the following month, the accounting entry will involve reversing the initial recognition of the cheque. The entry would typically be a debit to the accounts receivable (or cash) account and a credit to the dishonored cheque account or the relevant income account. This reflects the reversal of anticipated cash inflow, acknowledging that the payment was not received. Additionally, any applicable bank fees may also need to be recorded.
When a cheque receive from a and dicount allowed at same day then entry will be?
Debit discount allowed and credit purcahses
How do you find cheque entry to enter cheque number in tally 7.2?
In Tally 7.2, to enter a cheque number, first navigate to the "Gateway of Tally," then select "Accounting Vouchers." Choose the appropriate voucher type (usually Payment or Receipt) and press F5 or F6, depending on the transaction type. In the voucher entry screen, you will find a field for cheque details where you can enter the cheque number along with other relevant information before saving the entry.
