Journal entries

Durga Prasad

97 Points Posted on 20 April 2020

I think
Over draft a/c dr
to bank a/c

Shrikant Sahu

2 Points Posted on 20 April 2020

Bank to
overdraft

sabyasachi mukherjee

Profession Business

28196 Points Posted on 20 April 2020

Bank overdraft is always credit balance.
there is no transaction asked by the querist.

RAJA P M

"Do the Right Thing...!!!"

128147 Points Posted on 20 April 2020

@ Mr Kashish Gupta.,

Your query is not cleared...
pls Ask Your query clearly...

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 Posted on 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

NIKHIL SHARMA

2 Points Posted on 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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Kashish Gupta

Durga Prasad

Shrikant Sahu

sabyasachi mukherjee

RAJA P M

Vinay Srivastava

CA ARPIT BANGA

NIKHIL SHARMA

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