Accountancy, asked by Shazuchamp3390, 10 months ago

Bank charges debited by the bank journal entry

Answers

Answered by cwanume

3

Answer:

Credit Cash Book (Balance Sheet) and Debit Bank charges (Expense in the P&L)

Explanation:

Bank charges are costs to the business (account owner), that is why it is debited to the profit and loss to reduce the profits of the business owner.

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