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The accounting treatment for a dishonored cheque is; debit

Accounts - Principles of Accounts
WAEC 2014

The accounting treatment for a dishonored cheque is; debit

  • A. customer's account; credit bank account
  • B. bank account; credit customer's account
  • C. customer's account; credit sales account
  • D. sales account; credit customer account
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Correct Answer: Option B
Explanation

Treatment: Before any notice of cheque being dishonored: When a supplier (payee) receives a cheque from a customer(drawer) the supplier's cash book is debited and the customer's account in the sales ledger is credited with the amount of the cheque.

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