How to treat a post dated cheque in your financial statement?

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(PDC) post dated cheque received should effect the accounts receivable on the da...
Posted by:
Feras Jarjous
14-August-2014

Bank Reconciliation

Question added by Nozipho Mkaba
Date Posted: 2016/03/28

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1 Answers

by Saad Rahim , AUDITOR , AHMAD ALAGBARI CHARTERED ACCOUNTANTS

For company treating as an income:

Treat as asset and Income

Dr: PDC(asset)

Cr:Sales

Cr:Accrued Income

For company paying PDC's

Treat as laibility

Dr: Spplier

Cr:PDC's payable

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