A cheque of GH 5,000.00 was paid to a Foodstuffs Supplier Creditor as Part-Payment of the Institution's indebtedness and this cheque lasted for its mandatory
A cheque of GH 5,000.00 was paid to a Foodstuffs Supplier Creditor as Part-Payment of the Institution's indebtedness and this cheque lasted for its mandatory life span without withdrawal.
What would be the Accounting treatment for this cheque; where
a) The Cost Centre Manager asked you to discontinue the payment due to insufficient Funds?
b) The Cost Centre Manager gives you the mandate to continue with the payment.
Step by Step Solution
3.53 Rating (167 Votes )
There are 3 Steps involved in it
Step: 1
a If the check isnt accepted thanks to poor funds itll be thoughtabou...
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started
Authors: Courtland L. Bovee, John V. Thill
6th edition
978-0132971324
