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Received a cheque from ABC and Co. to whom goods were sold for Rs.20000 and allowedthem1% discount. The cheque isn’t deposited into Bank. what is the journal entry |
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Answer» Answer: "CHEQUE received but not deposited" , the cheque will be treated as CASH instead of BANK. that's it. Cash ac _dr 19800 Discount Allowed ac _dr 200 To sales ac 20,000 (being the cheque received from ABC & Co. , not yet deposited into bank.) (hope my answer was HELPFUL to you. please mark my answer the brainliest!!! I'll be very GRATEFUL.) |
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