Accounting for IGCSE & O level - Accounting Procedures (Section 8 - No. 46)
What entries are made to cancel a check in the sales ledger?
Debit amount, (COG) of the dishonored check. Credit amount, (COG) of the dishonored check.
Debit amount, (COG) of the dishonored check. Credit cash in bank.
Debit cash in bank. Credit amount, (COG) of the dishonored check.
Debit the customer's account. Credit the amount in the bank.
Explanation
To cancel a check in the sales ledger, you must debit the customer's account and credit the bank account.
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