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interest paid to bank for journel entry
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If it paid directly
bank Interest a/c Dr
To Cash a/c
If it is adjusted by Bank
Bank Interest a/c Dr
To Bank a/c
| Is This Answer Correct ? | 84 Yes | 8 No |
Answer / durgaprasad m
Bank Interest Dr
To Cash Cr
(direct cash payment)
Bank Interest Dr
To Bank Cr
(through cheque payment)
| Is This Answer Correct ? | 17 Yes | 4 No |
Answer / naveen kumar.karumuri
HERE THE QUESTION IS "INTEREST PAID TO BANK" IT IS
THE "NOMINAL ACCOUNT PRINCIPLE"
CONDITION: DR-ALL EXPENSES ALWAYS DEBIT
CR-ALL INCOMES AND GAINS ALWAYS "CR"
HERE JOURNAL ENTRY IS AS PER GOLDEN RULE
DR INTEREST PAID A/C
CR BANK/CASH A/C
(BEING INTEREST PAID TO THE BANK A/C)
| Is This Answer Correct ? | 12 Yes | 0 No |
Answer / ravinder.sunkara
interest a/c.......dr
to bank a/c
(being interest paid to bank)
| Is This Answer Correct ? | 11 Yes | 4 No |
Answer / a.balajee.rao
Bank intrest A/C.................Dr
To Cash/bank A/C.................Cr
(Being Intrest paid through Bank)
| Is This Answer Correct ? | 7 Yes | 4 No |
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