Journal entry for cheque issued to ram lal?

Question added by sukhdeep kaur
Date Posted: 2016/06/27

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issued a cheque for Rs. 250 to ali in full settlemnet of their account of Rs.300.

by SYED KHAJA JAFFER H CHISHTY , Finance Manager , Lattice Semiconductor (Formerly Silicon Image India)

Below are the entries.

1. When Check is issued.

Dr Ram Lal

Cr Bank Clearing Account

2. When check is cleared in bank.

Dr Bank Clearing Account

Cr Bank Account

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