Looping in SQL with Where condition

Question

Hi Team,

I am new to SQL server, can you please help me to write query on my scenerios:

I have below Table - Table1 :-

PostingDate	ReturnCheckReason	PaymentStatus	PolicyNumber
7/23/2020 15:30	Null	Payment	1234
8/6/2020 17:40	Null	Payment	1234
8/4/2020 14:29	Null	Payment	1234
8/5/2020 6:09	Null	Payment	1234
8/5/2020 12:47	Cancel Payment	Return	1234

INput to my stored Proc is PolicyNumber e.g 1234 which return 5 rows

Here I need to cover below cases :-

1. If the first payment is not cancelled , I need return that row.
2. If the first payment is cancelled , look for a next non-cancelled payment. If a next payment is found that was not cancelled, I need to return that row.

My Query Is :- I think I need to loop all the data for that policy till I get Non Cancelled payment, please let me know how do I that

SELECT TOP 1

[PolicyNumber],

[PostingDate],

[PaymentStatus]

FROM [dbo].[Bil_PaymentSearch] WITH (NOLOCK)

WHERE

(PolicyNumber = @PolicyNumber) AND

(REturnCheckreason <> 'Cancel payment') AND

(PaymentOrReturn <> 'Return')

ORDER BY PostingDate ASC