bank charges a/c debit
to cash a/c credit
debit bank charges
credit bank account
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
[Debit] Bank service charges [Credit] Bank account
Debit settlement chargesCredit cash /bank
Debit electricity chargesCredit cash /bank / accounts payable
Journal entry for opening a bank account
Debit cashCredit bank
Journal entry in the books of the buyer: [Debit] Goods Purchased xxxx [Credit] Cash/bank xxxx As buyer has not paid the freight charges, he will only record the transaction with original goods purchased amount.
interest allowed by bank
bank a/c to cash a/c
No entry at the time of payment by bank and entry is recorded when bank reconciliation with bank and information arrive from bank.
Debit owner capitalCredit bank
Debit cash / bankCredit loan from bank / bank overdraft