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Ignoring GST, the Accounting Entry That Would Need to Be

Question 65

Multiple Choice

Ignoring GST, the accounting entry that would need to be made for a debtor's cheque for $3400 that has been dishonoured is which of the following?


A) Debit bank $3400; credit debtors $3400
B) Debit debtors $3400; credit bank $3400
C) Debit debtors $3400; credit creditors $3400
D) Debit debtors $3400; credit discount allowed $3400

Correct Answer:

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