Question

7. When a cheque received from a debtor and not deposited into the bank the same day, what is
the journal entry passed? *
(2 Points)
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Answer 1

if a debtor pays the due amount to the firm by a cheque but if it is not deposited then this entry is passed :-

cheque in hand account... Dr.

to debtor account

see we are holding cheque right now not deposited in bank so we can't write bank there

also the debtor is decreased because the amount is duly received