A borrower pays $1000 towards the late payment penalty to a bank A pass the nec

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

More Accounting AllOther Interview Questions

i would like to know is closing stock appear in trial balance & it appears in which side in trading a/c

What is Insider Trading ?

what is tds

please give the sbi bank clerk exam paper model in last five years?

How can a shopkeeper maintain the daily data in tally

fill in the Blanks The Financial Year starts from______and ends with______

Hi friends can you send me the Accounting Interview questions with a interview experienced questions please

what is capital budgetting?

How do we treat grants that are received in advance of the period when they are to be spent?

what is the meaning of bank reconcilation

Hello, Can u tell me the procedure of Sale Tax Registration in Jharkhand. (VAT & CST )WITH Supporting Proof

what is ERP packages?

For more Accounting AllOther Interview Questions Click Here