Journal entry for: Received refund of rates by cheque.
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A returned check is a check that the receiving bank does not honor. If you're the check writer, having a check boomerang means that your bank will not pay the person or business to whom you wrote it. And if you received the check, a returned check is one for which you won't get paid—at least not right away.
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bank account. dr
to refund of rate account
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