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Cash book, Illustration 5, pg 2.84-2.85

Accountancy

For the transactions on 6 and 7 march, Srijan and Adit were credited and debited respectively for rs 6200. Then again the same was done when the amount was actually paid on 12 march. So isn't it wrong that two entries have been passed, although the payment is made only once? Both srijan and adit have their account credited and debited respectively for 12400 (6200+6200), when it should have actually been for 6200 only. So why is this entry passed twice?

Ronit Burad

CA Foundation

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15-Jun-21 12:16

494

Answers (4)

I think your doubt is clarified Why two entries have been passed

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siva chaitanya

CA Final

★ 13K+

15-Jun-21 21:06

But there actual payment is made only once. So why do we need to pass a second entry. A second entry would make it look like the payment has been made twice

Thread Starter

Ronit Burad

CA Foundation

★ 4K+

16-Jun-21 14:09

Second entry is made because first cheque issued is dishonoured so we are again making payment through our own cheque

siva chaitanya

CA Final

★ 13K+

16-Jun-21 18:30

I hope your doubt is clarified Mark it as best answer

siva chaitanya

CA Final

★ 13K+

16-Jun-21 18:31