BANKING TRANSACTION

• When a cheque is dishonored, it means: _______________

• • The cheque has been successfully cashed

• • The cheque was not accepted by the bank

• • c) The cheque was lost in transit

• • The cheque was accepted by the bank

When a cheque received from a customer is dishonored, the journal entry is:_____________

• • a) Debit Bank Account; Credit Customer's Account

• • b) Debit Customer's Account; Credit Bank Account

• • c) Debit Sales Account; Credit Customer's Account

• • d) Debit Customer's Account; Credit Sales Account

When rent paid by cheque, ___________Account is debited.

• Rent A/c

• Bank A/c

• Salary A/c

• Cash A/c

Cash deposited into bank , _________is to be debited

• Bank

• Cheque in hand A/c

• cash A/c

• Customer A/c

Payment by cheque to Mr. Ranveer ₹ 3,000 .Journal entry is ________

• Bank A/c Dr

  To Ranveer A/c

• Ranveer A/c Dr

  To Bank A/c

• Cash A/c Dr

  To Sales A/c

• Cash A/c Dr

  To Ranveer