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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?
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Answer Posted / tripti sen
1.bank is real a/c and company a/c in bank is a personal a/c
2.now let i clear u rules of real account and personal ac
real a/c:- debit was come& credit was goes out
personal ac :- debit the receiver & credit the giver
In the book of bank:
Interest a/c..........Dr
To company or party a/c
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