interest allowed by bank
Debit interest on loanCredit cash / bank
[Debit] Cash / bank [Credit] Unearned Interest Income
[Debit] cash / bank [credit] interest on bond
Debit fixed assetdebit interest expenseCredit cash /bank
Debit notes payabledebit interest expenseCredit cash /bank
debit bank accountcredit loan from bankwhen interest incurreddebit interest on loancredit loan from bank
Debit bondsDebit interest accruedCredit cash / bank
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
[Debit] Interest on Capital 5000 [Credit]Cash/Bank 5000
Dr. Interest Receivable Cr. Interest Income When Collected. Dr. Cash in Bank Cr. Interest Receivable
Journal entry for opening a bank account
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx