Jurnal for interest chrgd by bank- Interest a/c dr To bank Bank is real a/c

Jurnal for interest chrgd by bank-
Interest a/c dr
To bank
Bank is real a/c
Que is why bank is credit as d rule is
dr d reciever

Question Posted / pankaj singh

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Jurnal for interest chrgd by bank- Interest a/c dr To bank Bank is real a/c Que is why bank is c..

Answer / yashwanth

In this case Bank is Charging us So Interest is Nominal A/c
Debit - All expenses & Lossses

For Bank - It is real A/c - Credit the Giver

We are giving some amount to bank as charges not recieving

Is This Answer Correct ?

8 Yes

3 No

Jurnal for interest chrgd by bank- Interest a/c dr To bank Bank is real a/c Que is why bank is c..

Answer / n srinivas rao

As the Interest Expense charged by the Bank is an expense
and comes under Nominal Account. As per nominal
account "All expenses debit".

In this transaction Bank is not a personal account, it is a
Real account means it is as Asset to us and the Bank
charges are getting deducted from this Account. So As per
Real Account "What goes out Credit"
That is why the entry should be as follows
Interest exps A/C Debit
Bank A/C Crdit

Is This Answer Correct ?

6 Yes

1 No

Jurnal for interest chrgd by bank- Interest a/c dr To bank Bank is real a/c Que is why bank is c..

Answer / barkhamittal01

interest charged by bank,its a expensive,we are not paying
direct.
so its a nominal a/c

Is This Answer Correct ?

2 Yes

1 No

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