Documente Academic
Documente Profesional
Documente Cultură
Cash in Treasury xx
Other Specific Income of LGU xx
DISHONORED CHECK
A check is said to be dishonored when upon presentation for
payment, such payment is refused or cannot be obtained. Upon
receipt of the debit memo and the dishonored check from the
bank, constructive cancellation of the official receipt covering
the dishonored check shall be immediately effected by the
treasurer on the copy of his possession.
To record settlement
Cash in Vault xx
Real Property Tax Receivable xx
CANCELLATION OF LOST CHECK ISSUED
- a check is considered lost when misplaced, waylaid or left
behind negligently by the payee or holder in due course or by
the custodian/carrier and after diligent search cannot be
found.
Accounts Payable xx
Cash in Bank – Local Currency Account xx
SPOILED AND STALE CHECKS
Cash in Treasury xx
Receivable – disallowance and charges xx
To record disallowance
Receivables – Disallowances/Charges xx
Office Supplies Expense xx
To record settlement
Cash in Vault xx
Receivable – Disallowance/Charged xx