Question

5. Received a cheque from debtor Shyam ₹ 5,000 and Deposited Shyam’s cheque next day

Answer 1

Answer:

Journal entry on the day of receiving cheque:

Cheques in hand a/c dr.

To shyam's a/c

Journal entry on the next day:

Bank a/c dr.

To cheques in hand a/c