What is the journal entry- cheque deposited into bank. .Is there any difference between cheque recieved from Ramesh and deposited into bank AND cheque deposited into bank?What is the term called cheque in hand?and state its meaning.
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Cheques deposited into bank mean the cheques that have been collected by bank.
Cheque in hand means the cheques which are not collected into the bank but you've that cheque with you and at anytime you can deposit'em
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