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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for giving the salary in terms of cash to an employee for what minimum amount revenue stamp is reqired to paste the vouceher? up to what limited revenue stamp is required?

1 Answers  

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what is the reason for finding break even point

2 Answers   ACS,

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when & how interest on unsecured loan is calculated?

0 Answers  

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What does the word credit mean in terms of accounting?

0 Answers  

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what is paroll

2 Answers  

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What is cash profit

2 Answers   Capital IQ,

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If we get TDS certificate after audit whareas this certificate is related to same financial year,in this condition how will we consider tds or can we take this credit in next f.y.?

2 Answers  

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WHAT ARE THE MOST ELEMENTS OF YOUR JOB?

0 Answers  

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How do you deal with a dishonoured cheque in the client trust account records. Manual or computer system?

1 Answers  

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Please tell me what is the journal entry of closing balance ?

2 Answers   IBM,

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a cheque is received from a debtor and is deposited in the bank on the same day. what will be the journal entry?

0 Answers  

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