Bank overdraf account

A/c entries 479 views 1 replies

Good evening. please help me, i have in problem,i am working  in jupiter institute. please help me.

sir, we have 60,000 debit balance in bank account no ....1281 which is overdraf bank account and it was opened with zero balance . after payment of rs 20000  to some party,other charges is impose by bank monthly and now its balance is 60000 (dr).

how should i do the entry?  please.

Replies (1)

X(SAY)                 A/C DR 20,000

BANK CHARGES A/C DR 40000

TO BANK....1281A/C   60000

AND

p&la/c dr 40000

to bank charges 40000

(ASSUMING BANK CHARGES 40000 ACCRUED IN THE SAME YEAR)

CORRECT ME IF I AM WRONG,

THANK U.

 


CCI Pro

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