Question

Bank advises cheque of Garg Bros. returned unpaid. 25000 . Pass journal entry?​

Answer 1

Explanation:

garg bros a/c 25000

to returned bank a/c. 25000

Answer 2

Journal Entry for bank advises cheque of Garg Bros. returned unpaid of Rs. 25000 is written as follows:

Garg bros. a/c   Dr.     25000

  To bank a/c                         25000

(Being bank advises cheque of Garg Bros. returned unpaid)

• In your company's books, a journal entry acts as a record of a business transaction. In double-entry accounting, each transaction needs at least two journal entries. A bookkeeper tracks all the alterations that a transaction might make to a company by noting them in their diary.

• Narration is the name given to the brief explanation of each transaction that is placed beneath each entry. In contrast to a journal, a ledger does not require narration. The succinct explanation is what gives the specifics of the journal entry and explains which account was debited or credited.

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