in Ts grewal chapter cash book page 9.43 question 15, very confused...we we record endorse and cheque received from panna lal in journal or cash book....On meritnation textbook solution, it records both in cash book...so confused?

Radhika is correct here, In these type of questions the technique used by the Grewal textbook till last year was through Cash book, but as per new norms when a cheque is received and endorsed in favour of  other person then this transaction is to be recorded through a journal entry because the cheque is not deposited in bank. In this case two entries are passed

i) At time of receiving cheque

Cheque in hand A/c Dr.  1200

 To  Panna Lal  1200

( Being Cheque received from Panna lal not deposited but endorsed)

 

ii) At time of endorsement

Kamal A/c Dr.  1200

 To  Cheque in Hand A/c  1200

( Being Cheque received from Panna Lal)

 

I would suggest you to record this entry through special journal and eliminate the entry recorded on June 15 and June 28 in the cash book.  And add the above entires or a combined entry to the journal.

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the answer is correct. we have to record both in cash book,because both enteries involve bank

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no, but in some books, cheques received and endorsed are recorded in special journals while sometimes it is shown in cash books...so i am kinda confused?

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i understand your problem. both solution will be correct. try reffering to pg 9.14 of ts gerewal

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