mr ram helped a friend by encashing a cheque for rs 1000 which was Dishonoured the friend has so far repaid only rs 400 what are the effect of this in bank account and his friend account
Gunvant Dabhade (1 Points)
10 July 2020mr ram helped a friend by encashing a cheque for rs 1000 which was Dishonoured the friend has so far repaid only rs 400 what are the effect of this in bank account and his friend account
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 12 July 2020
Your bank is credited with 400₹ and your friends account is debited with 400₹. Your cheque bounced back and so no cash is credited into bank account. Next, your receivables is outstanding by 600₹.
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