Posted: 21 Apr 2011 at 20:31 | IP Logged
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Hello,
What will be the journal entries for a check returned by te bank for Non Sufficient funds in the customers account.
All the following journal entries are in the books of Business
1) Sold a Laptop to Customer John for $200
Journal Entry
John A/R (Dr) $200
Sales Revenue $200
2) John issued a check for $200 to the business
Journal Entry
Check (Cash) $200
John A/r &nb sp; $200
3) Check Bounced & Bank charged $10 as charges
What will be the journal entries from the point of business?
Thx
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