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How can you get a cash advance from a bank?
A cash advance is typically a loan taken out against a line of credit such as a credit card, the cash advance typically charges a substantially higher interest rate. In order to get a cash advance from a bank, one needs to provide the bank with a line of credit that they can use as collateral to the cash advance they provide, this is typically done through the use of a credit card.
What is the journal entry for bank services charges?
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
What is journal entry for bank charges?
bank charges a/c debit to cash a/c credit
Can you get a credit card to pay off your overdrawn bank account?
In principle you can; you can get a cash advance from a credit card and use that to pay off the bank account, the problem is that the interest from the credit card is likely to be higher than the bank charges. It's probably best to try and arrange a loan with the bank.
What is the amount of interest on a cash advance from a credit card of 2000 dollars at 27 per cent a month?
Finance charges will be approximately $44 on $2000 at 27% depending on how your bank computes finance charges.
Do you have to pay interest on a Cash Advance?
If you take a cash advance from a credit card you do have to pay interest. It is usually a higher interest rate than your card normally charges for purchases.
Journal entry for unearned interest income?
[Debit] Cash / bank [Credit] Unearned Interest Income
What is the journal entry for received semiannual interest on bonds?
[Debit] cash / bank [credit] interest on bond
Why does a cash book bank column balance differ from the bank statement balance?
This happens when some transactions are recognized as unpresented and uncredited, they can be in forms of cheque or normal transactions. likewise, transactions like Income credited by the bank, direct deposit made by customs, direct payments by the bank bank charges, interest charges, wrong credit by bank etc, so these will absolutely bring the differences of Your Cash Book and Bank Statements Balance,
What is the journal entry to record payment of accrued interest?
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
Interest rate of cash credit account of sbi?
10 Lakh ka cash credit account ka kya sbi bank ka intrest rate hai
What is the journal entry of interest on capital of Rs 50000 10 percent?
[Debit] Interest on Capital 5000 [Credit]Cash/Bank 5000
