[Debit] Bank service charges [Credit] Bank account
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
Debit settlement chargesCredit cash /bank
Debit electricity chargesCredit cash /bank / accounts payable
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.
[Debit] Bank service charges [Credit] Bank account
[Debit] Bank service charges xxxx [Credit] cash / bank xxxx
bank charges a/c debit to cash a/c credit
create bank charges ledger under expenses....n make a entry.
Debit electricity chargesCredit cash /bank / accounts payable
Debit settlement chargesCredit cash /bank
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.
increase cash, increase accounts payable
dr fixed asset cr bank
Double-entry bookkeeping, in accounting, is a system of bookkeeping so named because every entry to an account requires a corresponding and opposite entry to a different account. For instance, recording earnings of $100 would require making two entries: a debit entry of $100 to an account called "Cash" and a credit entry to an account called "Income."
DR Retained Profits (in BS) CR Cash/Bank (in BS)
[Debit] Staff loans [Credit] Cash / bank