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When ever we have a Bank Account and Want to Transfer it to another Bank Account, So How Can we make a Journal Entry?

Accounting
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Question added by Ajmal Paiman , Admin/Finance , BPCC
Date Posted: 2014/10/19
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Amar Bhattarai
by Amar Bhattarai , Junior Accountant , Siddha Medico Concern

Bank in which we are transferring is debited and the transferred account of current bank is credited.

For example, i have account in abc bank and want to transfer my account to xyz bank,entry is made like this:

 

xyz bank ac Dr.

To, abc bank ac   Cr

 

 

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