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Question

When a cheque received on a particular date is not deposited the same day into bank, it is entered in ________________.


A
Cash column on the debit side
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B
Bank column on the debit side
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C
Cash column on the credit side
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D
Cash column on the debit side and credit side.
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Solution

The correct option is D Cash column on the debit side
When a cheque received is not deposited on the same day, it is taken in the cash account and when it is deposited in bank, then a contra entry is passed. 
For example cheque received from Ram on 15th March is deposited on 18th March, following entries will be passed: 15/3 Cash A/c Dr.

Accountancy

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