overdraft in bank?
what will be the entry if we have to show it in the cash books?
I think
Over draft a/c dr
to bank a/c
7 Replies
sabyasachi mukherjee
(27750 Points)
Replied 20 April 2020
Bank overdraft is always credit balance.
there is no transaction asked by the querist.
there is no transaction asked by the querist.
RAJA P M
("Do the Right Thing...!!!")
(128106 Points)
Replied 20 April 2020
@ Mr Kashish Gupta.,
Your query is not cleared...
pls Ask Your query clearly...
Your query is not cleared...
pls Ask Your query clearly...
Vinay Srivastava
(24 Points)
Replied 20 April 2020
Overdraft is a facility that is provide by bank to their regular customer. and it is a mutual contract between two party basically so that there is no monetry transaction. there is no entry passed in books of accounts..
CA ARPIT BANGA
(job )
(376 Points)
Replied 20 April 2020
In my opinion if you take overdraft no need to pass any extra entry in this case .
however if bank charge some interest then book this is in your financials
however if bank charge some interest then book this is in your financials
NIKHIL SHARMA
(2 Points)
Replied 23 April 2020
Firstly we assume that the balance is being reflected towards credit side of bank a/c so the journal entry may not be possible.
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