Why is Interest A/c debited and Bank a/c credited when interest is charged by the bank?? Here I assume Its an expenses so interest is debited but I don't understand why bank is credited?? Bank is a personal account. Please explain this doubt?

2 Answers  

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chq. of ICICI received from big jos of rs. 35000/- for credit sale bill no. S/01 andBill no. S/03

1 Answers  

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I would like to know about work in progress, when we will debit WIP under Asset a/c head in balance sheet, the credit will be allocated under in which accounting head? whether its under purchase a/c or income a/c ? expecting detail explanation?

2 Answers  

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The claim recoverable has been settled with the insurance company for 2000.what is the actual stock lost value? Please give me in calculation.

0 Answers  

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What is difference between SEZ Developer & SEZ Unit?

2 Answers   ABC, Jubilant Organosys,

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Entry of vehicle loan paid some margin money and other amount financed by bank and repayment of bank loan?

1 Answers  

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wat is capitalbudgeting?methods for cb?

1 Answers  

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give 3 reasons why capital is referred to as a special liability

0 Answers   KCA University,

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hi friends... what it is the journal entry to be passed when the loan sanctioned by one bank and same the cheque was deposited in another bank on same day.? thanks & regards

6 Answers  

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Accounting Questions

2 Answers   Infosys,

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any example should cover all three types of accounts in one entry

2 Answers  

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what z diff between depreciation and amalgamation?

5 Answers  

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