what will be the journal entry for chintu cheque dishonoured
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Bank A/c Dr. 1 when payments received by him( payee) by cheque.. Cash A/c Dr.The journal entry will be a credit to Cash and a debit to another account such as a receivable account. A simple rule is that the adjustment must go where the item is not yet present. Since the return item and the related bank fee are already on the bank statement, the adjustment must go to the general ledger accounts.
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