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[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
[Debit] Bank service charges [Credit] Bank account
debit accrued expensescredit cash / bank
The employees are such an expense for banks because of they must be paid well. There are some who plan with robbers on how to steal from the coffers of the bank.
Dr. Accrued Expense Cr. Cash or Cash in bank
indirect exp
Sales
Not true. If you study the Libya's system you will come across something called Administrative Expense. This is the term they use.
Bank overdraft charges are the result of someone spending more money than they have in their bank account. The bank then charges interest on the overdrawn amount.
No, bank expenses do not typically go on the income statement. Bank expenses are usually recorded on the bank's own financial statements as part of their operating expenses. The income statement of a bank would typically include items such as interest income, loan loss provisions, and non-interest income.
Yes
bank charges a/c debit to cash a/c credit
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
[Debit] Bank service charges [Credit] Bank account
what does banking charges mean
debit accrued expensescredit cash / bank
LC confrmation charges is the charges paid to confirmation bank and born by the applicant, normally a confirmaton bank is bank which give the payment on the presentation of documents by applicant,s bank