Journal entry for bank charges
Bank charges journal entry is a debit to bank charges account and a credit to bank account.
Debit bank charges account
Credit bank account
Bank charges are expenses incurred by the bank for providing ser...read more
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Bank charges journal entry is a debit to bank charges account and a credit to bank account.
Debit bank charges account
Credit bank account
Bank charges are expenses incurred by the bank for providing services to the account holder
Example: Bank charges of $50 for the month of January
Journal entry: Debit Bank Charges account $50, Credit Bank account $50
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