Asked by Jill
What is the journal entry for a bounced check.
For exemplar, on May 10, Mr. Smith pays his $1000 bill the a certain company, cash receipt #1. On May 12 the check is returned marked Not Sufficient Funds. Would the journal entry look like this.
debit credit
Accounts Receivable $1000
Cash $1000
Also, What source document would I use. Thanks for you helps.
For exemplar, on May 10, Mr. Smith pays his $1000 bill the a certain company, cash receipt #1. On May 12 the check is returned marked Not Sufficient Funds. Would the journal entry look like this.
debit credit
Accounts Receivable $1000
Cash $1000
Also, What source document would I use. Thanks for you helps.
Answers
Answered by
Jill
Thanks!
There are no AI answers yet. The ability to request AI answers is coming soon!
Submit Your Answer
We prioritize human answers over AI answers.
If you are human, and you can answer this question, please submit your answer.