Your bank charges a monthly statement fee of Rs 140. Which account is debited to record the same in journal?

Bank charges (Expense account)

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Capital account

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Bank account

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Cash account

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Solution

The correct option is A
Bank charges (Expense account)

Bank charges (Expense account) is debited to record the bank fees charged by bank.

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Your bank charges a monthly statement fee of Rs 140. Which account is debited to record the same in journal?

The correct option is A Bank charges (Expense account) Bank charges (Expense account) is debited to record the bank fees charged by bank.

The correct option is A
Bank charges (Expense account)

Bank charges (Expense account) is debited to record the bank fees charged by bank.