Question

cheque received will come in which column of cash book...Cash or Bank?​

Answer 1

Answer:

Cash is your answer

Explanation:

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Answer 2

Answer:

1. If it is a Single column cash book, cheque received will not be recorded.

2. If it is a Double Column cash book, cheque received will be recorded in the bank column on the debit site (because cash at bank is our asset and increase in asset is debited) once the cheque is .

Explanation:

In a single column cash book, only cash transactions are recorded. So, cheque received will not be recorded in it because no cash is involved.

In a double column cash book, both cash and bank transactions are recorded.

The debit side is the receipts side and the credit side is the payments side.

So, if a cheque is received, it will be debited in the bank column of the debit side.

A Special Case:

Sometimes, in a few questions, the dates when the cheque is received and the cheque is deposited in the bank are different.

For example, Mr. A received a cheque from Raju on April 10 and deposited it in the bank on April 15.

In such cases, nothing will be recorded in the cash book on 10th April but we need to mention the journal entry and reason for not recording it in a working note.

And, we'll debit the bank column on April 15, the date when the cheque is deposited.