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Jurnal for interest chrgd by bank-
Interest a/c dr
To bank
Bank is real a/c
Que is why bank is credit as d rule is
dr d reciever
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Answer / yashwanth
In this case Bank is Charging us So Interest is Nominal A/c
Debit - All expenses & Lossses
For Bank - It is real A/c - Credit the Giver
We are giving some amount to bank as charges not recieving
| Is This Answer Correct ? | 8 Yes | 3 No |
Answer / n srinivas rao
As the Interest Expense charged by the Bank is an expense
and comes under Nominal Account. As per nominal
account "All expenses debit".
In this transaction Bank is not a personal account, it is a
Real account means it is as Asset to us and the Bank
charges are getting deducted from this Account. So As per
Real Account "What goes out Credit"
That is why the entry should be as follows
Interest exps A/C Debit
Bank A/C Crdit
| Is This Answer Correct ? | 6 Yes | 1 No |
Answer / barkhamittal01
interest charged by bank,its a expensive,we are not paying
direct.
so its a nominal a/c
| Is This Answer Correct ? | 2 Yes | 1 No |
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