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Give Journal Entry for "Interest Received from Bank"
and give description with Accounting rules
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Answer / fayas
bank account Dr
To Interest
(Interest received from bank)
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / avinandan bose
Dr. Cr.
Date Particulars Rs. Rs.
d/m/y Bank A/C-----Dr. XXX
Interest Recieved A/C XXX
(Being Interest recieved
from Bank)
According to Golden Rules:-
1.Interest Recieved:- Nominal A/C,Income,Credit.
2.Bank A/C :- Real A/C ,comes in, Debit.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / jitesh arora
Bank A/c-Dr
To Interest-Cr
(Being Int. Recd. From Bank)
(REASON-BECAUSE Interest comes in bank account so bank will be debited. so the rule is when cash,interest,cheque of parties comes in bank a/c then this case the bank will be debited)
Debit the reciever & Credit the giver.
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / varun adhikari
Bank A/C Dr.
To Interest Income A/C.
(Being interest received)
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / javad khan
some guyz here they had posted entry as
(eg:1) Interest A/C-dr (eg:2) salary ac/c-dr
to cash to cash a/c
(being salary paid)
dont u think the above posted entry is of interest paid not received...so the entry for interest received is
Bank/cash a/c --dr
to interest.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / m.a.sajid khan
Bank a/c .... Dr. (real Account)
interest A/c ...Cr.(Nominal Account)
Real Account:-Dr. What comes in and Cr.What goes out
Nominal Account:- Dr. All Expenses and Losses Cr. All in
come and gains.
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / sandip mukharjee
Bank A/C.....Dr.
To Interest Received A/C......Cr.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / harish maurya
BANK A/C ------ DR.
TO INTEREST RECEIVED A/C
((BEING INT.RECEIVED FROM BANK)
| Is This Answer Correct ? | 0 Yes | 0 No |
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