Journal entry for bank charges

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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 ser...read more

Sanket patel
1y

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Journal entry for bank charges

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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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