cheque

This topic has 1 reply, 2 voices, and was last updated 11 years ago by John Moffat.

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June 3, 2015 at 6:00 pm #252633
Quốc Anh
Participant
- Topics: 41
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I have a transaction like this:

Received a cheque from D Randle for $424

How to account for this transaction in Credit side correspondingly Debit side of Cash?

Dr Cash 424
Cr ?
June 3, 2015 at 6:50 pm #252678
John Moffat
Keymaster
- Topics: 57
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I depends why D Randle is paying you!!!

If it is because they owe you money, then you credit receivables.

I really do suggest that you watch the free lectures for F3 – if you watch them in order then they are a full classroom course covering everything you need for F3.
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