Question

journal entry of bank charged commission 200​

Answer 1

Answer:

Commission by bank A/C ..Dr. 200

To Bank A/C ...............................200

Answer 2

The Commission account will be credited and the bank account will be debited.

• A journal entry is the record of the financial transaction of a business in its financial books.
• The transactions of a business are recorded in a journal, which indicates the debit and credit balances.
• These specific entries can help in the authentication of transactions and also helps to know if they are supported with bills.
• In the given statement, the commission has been typically charged by the bank.
• Since it is a charge thus, it will be debited.
• Thus, the correct journal entry will be -

Commission by bank A/C  Dr.  200

To Bank A/C                              200

( Being the commission charged by the bank)

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