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Hi Everybody,
1). Can anybody tell me the Journal entry for Bank charges
Rs.100 and under which account it will come.
2). Received interest from Bank what is the journal entry,
under which account it will come,
Awaiting for soonest reply,
Thanks,
Khan
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Answer Posted / dhanashree
Hi, Since the bank charges are directly debited from our
account, we will reduce the bank balance (by debiting bank
account) remember creditin Bank account means cash is
adding into your account. Journal entry should be:
Bank A/C.....Dr
To Bank Charges A/C
(Being bank charges charged by bank)
In case of Interest is received on deposit etc. We should
treat it as income and journal entry should be:
Cash A/C....Dr
To Interest received A/C
(Being interest received)
| Is This Answer Correct ? | 8 Yes | 3 No |
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