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what is journal entry for "Interest allowed by bank" and where does it come in pass book??
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Answer / answerer
The journal entry for interest allowed by bank is:-
bank a/c.....Dr
To interest a/c
In the pass book, the interest is shown on the credit side.
financeaccountingsimplified.com
| Is This Answer Correct ? | 57 Yes | 5 No |
Answer / satish
Assume that interest paid by bank
In pass book it shows "interest" on credit side.
In the books of company journal entry is :-
Bank a/c ..Dr rs.50/-
To interest(indirect income) a/c... Rs.50/-
| Is This Answer Correct ? | 36 Yes | 5 No |
Answer / shivangi
Bank A/c Dr.
intt. received A/c. Cr.
(intt received from bank)
passbook - intt. will shown on credit side.
| Is This Answer Correct ? | 24 Yes | 5 No |
Answer / answerer
The journal entry for interest allowed by bank is:-
cash a/c.....Dr
To interest a/c
In the pass book, the interest is shown on the credit side.
financeaccountingsimplified.com
| Is This Answer Correct ? | 4 Yes | 22 No |
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