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What is the Entry of A Demand Draft is prepared for rs.4500
from UTI bank after bank charges?

Answer Posted / dharmesh sati

You have not specify the Bank charge including in the 4500
or exculding so i assume that Bank Charges is exclding of
4500 & also you have not mention the Party Name so I assume
that Demand Draft is on account of XYZ

So Entry will be

XYZ Debit Rs. 4500
Bank Charges Debit Rs. 45
UTI BANK Rs. 4545

Is This Answer Correct ?    79 Yes 15 No



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