Question

* 500 bank has credited for interest and debited 200 for bank charges.
write the accounting equation for the following transaction​

Answer 1

Answer:

Debit interest refers to fees charged on overdrawn bank accounts. In banking, transactions made to a depositor's bank account that decrease the balance of the account are called debits. Debit interest is interest charged on an account that is overdrawn.

Answer 2

Bank Charges A/C. Dr. 200

Bank A/C. Dr. 300

To Bank Interest A/C. 500