ACCOUNT NUMBER 1315, ACCOUNTS RECEIVABLE—DISHONORED CHECKS - 10410
Normal Balance: Debit
Purpose: This account shows the amounts charged to persons because their checks have been dishonored by banks. As dishonored checks are redeposited or substituted with other checks or legal tender, the account is credited.
Subsidiaries: File of Uncleared Bank Debit Notices
Normal Entries:
|
Entry Number |
Debits |
Entry Number |
Credits |
|
10. |
Cash is remitted to banks for dishonored checks and accounts receivable are established. |
7. |
Cash is received and applied, realizing accounts receivable– dishonored checks. |
|
11. |
(Alternate entry for dishonored checks.) |
8. |
Cash is applied, realizing accounts receivable–dishonored checks. |
|
|
|
9. |
Accounts receivable are written off. |
|
|
|
36. |
Cash is received and applied from the sale of accounts receivable– dishonored checks. |
Revisions
No Revisions for this item.