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What is the journal entry for bank overdraft taken from any bank?
Wiki User
∙ 9y ago
Debit cash / bank
Credit bank overdraft
Wiki User
∙ 9y ago
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What is journal entry of bank overdraft?
Debit cash / bankCredit loan from bank / bank overdraft
What Journal entry do i make to record cash shortage?
Hi, There is no journal entry for cash shortage as you can never have money less than 0. However if the credit side of the ledger is more than the debit side of the Cash book, the entry passed is Cash/Bank A/C dr......To Bank Overdraft A/C.
What is the journal entry for deposit to bank account for beginning a business?
Journal entry for opening a bank account
Is bank overdraft credited or debited?
It is a debit and taken out of your account.
What is the journal entry for withdrawal from bank?
Debit cashCredit bank
What is journal entry of bank overdraft?
Debit cash / bankCredit loan from bank / bank overdraft
What is the journal entry for overdraft?
For an overdraft, the journal entry would be to debit the bank account (increasing the overdraft liability) and credit the corresponding expense account or accounts that led to the overdraft. This reflects the additional amount drawn from the bank account beyond the available balance.
What Journal entry do i make to record cash shortage?
Hi, There is no journal entry for cash shortage as you can never have money less than 0. However if the credit side of the ledger is more than the debit side of the Cash book, the entry passed is Cash/Bank A/C dr......To Bank Overdraft A/C.
What is the journal entry for deposit to bank account for beginning a business?
Journal entry for opening a bank account
Is bank overdraft credited or debited?
It is a debit and taken out of your account.
What is the journal entry for withdrawal from bank?
Debit cashCredit bank
Why is bank overdraft in credit side of journal?
Because it's a form of debt. All debts are entered in the credit side of a journal.
What will be the journal entry when interest allowed by the bank?
interest allowed by bank
What is journal entry of paid into bank?
bank a/c to cash a/c
What is the journal entry if bank pay the amount to vendor on behalf of the company?
No entry at the time of payment by bank and entry is recorded when bank reconciliation with bank and information arrive from bank.
What is the journal entry for withdrew capital from bank?
Debit owner capitalCredit bank
What will be journal entry if a bank gives loan?
bank a/c dr to bank loan a/c
