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A borrower pays $1000 towards the late payment penalty to a
bank A pass the necessary journal entry

Question Posted / pradi

Answers were Sorted based on User's Feedback



A borrower pays $1000 towards the late payment penalty to a bank A pass the necessary journal entry..

Answer / tapan kumar roy

BANK CHARHES A/C DR 1000
TO BANK 1000

Is This Answer Correct ?    24 Yes 12 No

A borrower pays $1000 towards the late payment penalty to a bank A pass the necessary journal entry..

Answer / shiv gupta

Penalty A/c            Dr.                      1000
 (Under Indirect Exp.)

     To Bank A   A/c                          1000

Is This Answer Correct ?    9 Yes 2 No

Post New Answer

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