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What is the journal entry for bank services charges?
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
What journal entry is needed to debit for bank service charges?
[Debit] Bank service charges [Credit] Bank account
What is the accounting journal entry to record settlement charges?
Debit settlement chargesCredit cash /bank
What is journal entry of electricity charges?
Debit electricity chargesCredit cash /bank / accounts payable
When double entry for transaction appear on both side the cash book is called?
When double entry for both side of cash books appears that type of transaction is called contra entry as in double column cash book entry for receiving or paying cash in bank or from bank requires entry on debit as well as credit side of cash book.
What is the journal entry for bank services charges?
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
What journal entry is needed to debit for bank service charges?
[Debit] Bank service charges [Credit] Bank account
What is journal entry for bank charges?
bank charges a/c debit to cash a/c credit
How do you record bank charges in tally 9?
create bank charges ledger under expenses....n make a entry.
What is the accounting journal entry to record settlement charges?
Debit settlement chargesCredit cash /bank
What is journal entry of electricity charges?
Debit electricity chargesCredit cash /bank / accounts payable
When double entry for transaction appear on both side the cash book is called?
When double entry for both side of cash books appears that type of transaction is called contra entry as in double column cash book entry for receiving or paying cash in bank or from bank requires entry on debit as well as credit side of cash book.
Accompanying the bank statement was a debit memorandum for bank service charges what entry is required in the depositor's account?
increase cash, increase accounts payable
Double entry for Purchase fixed asset?
dr fixed asset cr bank
Is Bank Reconciliation is a part of double entry system?
Yes, bank reconciliation is a part of the double entry system. It involves comparing the balances in a company's records with that of the bank statement to ensure accuracy and consistency. This process helps to identify any discrepancies and errors that need to be corrected.
Why cashbook is a book of prime entry and part of the double entry system?
The cash book is a book of prime (original) entry because it is written up from business documents. The cash book is part of the double entry system as it acts as ledger accounts for cash and bank.
What is the double entry for dividends paid?
DR Retained Profits (in BS) CR Cash/Bank (in BS)
