Accounting for IGCSE & O level - Accounting Procedures (Section 4 - No. 31)
A customer dishonored a cheque. What is the correct accounting entry?
Debit Bank, Credit Customer
Debit Customer, Credit Bank
Debit Sales, Credit Customer
Debit Bank, Credit Sales
Explanation
The customer owes the business money (debit) and the bank has not provided the money (credit).
Comments (0)
