Hello,
We are paying some creditors through multicity chaques. Charges are borne by the creditor. Accounting entry made in our books is:
Sundry Creditor A/c ....Dr
To Bank A/c
To Bank charges
Is treatment for bank charges correct?
Hello,
We are paying some creditors through multicity chaques. Charges are borne by the creditor. Accounting entry made in our books is:
Sundry Creditor A/c ....Dr
To Bank A/c
To Bank charges
Is treatment for bank charges correct?