Debit cash
Credit bank
You write a cash withdrawal as follows: debit cash ; credit bank.
Journal entry for opening a bank account
bank a/c to cash a/c
oct 31 Drawings ,Nancy 4500 Cash at bank 4500
[Debit] Capital Account xxxx [Credit] Drawings xxxx
You write a cash withdrawal as follows: debit cash ; credit bank.
Journal entry for opening a bank account
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.
oct 31 Drawings ,Nancy 4500 Cash at bank 4500
[Debit] Capital Account xxxx [Credit] Drawings xxxx
Debit owner capitalCredit bank
Debit cash / bankCredit loan from bank / bank overdraft
bank a/c dr to bank loan a/c
Debit expensesCredit cash / bank
Debit payrollCredit cash / bank