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