Answers!
Credit card is normally personal exp of proprietor
In this case,you pass entry
Drawaings Dr
To Bank
(Credit card account is not maintained)
If it is a company exp,you show it in books of accounts
Credit Card A/c Dr
To Bank
Credit card is under Loan Liabilities and it is a payment entry
Comment
Answer the question...
Credit card is normally personal exp of proprietor
In this case,you pass entry
Drawaings Dr
To Bank
(Credit card account is not maintained)
If it is a company exp,you show it in books of accounts
Credit Card A/c Dr
To Bank
Credit card is under Loan Liabilities and it is a payment entry
Comment