Accounting Treatment of Guarantee Cheque

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  1. RAJANEESH V R

    RAJANEESH V R New Member

    My uncle is an accountant of a Construction company....He asked me one question that,during the time of construction they got guarantee cheque from clients and sometimes they subcontract their work and give guarantee cheque to subcontractors....what are the accounting treatment? give me the journal entry....
     
  2. RAJANEESH V R

    RAJANEESH V R New Member

    one correction in my question....

    Sir, My uncle is an accountant of a Construction company....He asked me one question that,during the time of construction they give guarantee cheque to clients and sometimes they subcontract their work and subcontractors give guarantee cheque to them in order to give an assurance on work....what are the accounting treatment in this regard? please give the journal entry
     
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