Accountancy, asked by kanchansharma2520005, 9 months ago

Received a cheque from ram in full settlement and banked immediately

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Answered by Anonymous

Answer:

Answer. When a cheque received is not deposited on the same day, it is taken in the cash account and when it is deposited in bank, then a contra entry is passed. For example cheque received from Ram on 15th March is deposited on 18th March, following entries will be passed: 15/3 Cash A/c Dr.

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