Question

Cashbook entry of honoured our own acceptance by cheque

Answer 1

by honoring and accepting, it means that the organization payed their bills through cheque, in that case the bills payable are debited and the bank account is credited, this is because the company gave out its money and to the seller of the products received the money through cheque and th double entry system applies.

Answer 2

Answer:

by purchase account Dr to bank account