Question

Journal entry for interest on bank overdraft please urgently

Answer 1

interest on overdraft a/c Dr
To Bank a/c

Answer 2

Journal entry for interest on bank overdraft is:  

Interest on bank overdraft A/c Dr.

To Bank A/c

(Being, journal entry passed for interest on bank overdraft paid. Interest on bank overdraft is debited because as per golden rules of accounts, for nominal nature of accounts it states to debit all expenses. Bank account comes under real account as per golden rules of accounts and it states that debit what comes in and credit what goes out.)