Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 21 - No. 37)
What is the correct journal entry for bank charges?
Debit Bank Charges, Credit Bank
Debit Bank, Credit Bank Charges
Debit Bank Charges, Credit Cash
Debit Cash, Credit Bank Charges
Explanation
Bank charges are debited (increased) to the expenses and bank account decreases (credited).
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