Question

What is the journal entry of received cheque for goods sold?

Answer 1

cash a/c dr

to sales a/c

(being goods sold and cheque received).

u may get a doubt when we receive cheque then bank a/c should debit then why this person is debited the cash a/c it's because cheque is not deposited in the bank .

if cheque is deposited on the same day in the bank,then the journal entry will be

bank a/c dr

to sales a/c

(being goods sold and deposited the cheque on the same day)

but if the cheque is deposited on the other day then the journal entry will be 1st journal entry and along with

bank a/c dr

to cash a/c

Answer 2

Answer:

bank a/c dr

 To sales a/c

Explanation:cheque means write bank so bank ac dr to sales ac