Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 2 - No. 19)
What is the result when a cheque payment is un-honored?
The business will know that the customer did not pay it
The cash book will be debited and the bank statement will be credited
A credit entry will be made in the cash book and the bank statement
The business may have to take legal action against the customer
Explanation
The business may have to take legal action against the customer.
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