Answered: The cheque which is issued to creditor…

The cheque which is issued to creditor but is not presented for payment is called? Omitted cheque Uncredited cheque Outstanding cheque Dishonoured cheque

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

The cheque which is issued to creditor but is not presented for payment is called?
Omitted cheque
Uncredited cheque
Outstanding cheque
Dishonoured cheque

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QUESTION 10 Match the term on the left to the appropriate classification or description on the right. v Allowance for doubtful accounts A. Discounts for early payment of A/R, recorded as contra- revenues v Net accounts receivable B. An account that the firm credits when it records bad debt v Sales discounts expense v Write-offs of A/R C. Entries that reduce gross accounts receivable D. Gross accounts receivable minus Allowance for doubtful accounts
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