Bank Interest Expense
Code: 5282Account Information
| Financial Statement | Income Statement |
| Normal Balance | Debit |
Definition
Interest paid on loans, credit facilities, and overdrafts.
Common Journal Entries
Dr. Bank Interest Expense
Cr. Bank Account
Dr. Bank Interest Expense
Cr. Loan Interest Payable
Dr. Bank Interest Expense
Cr. Bank Overdraft
Dr. Income Summary
Cr. Bank Interest Expense
Dr. Bank Interest Expense
Cr. Bank Account
Dr. Bank Interest Expense
Cr. Loan Interest Payable
Dr. Bank Interest Expense
Cr. Bank Overdraft
Dr. Income Summary
Cr. Bank Interest Expense
📐 IFRS vs US GAAP Accounting Treatment
❓ Frequently Asked Questions
A: Dr. Bank Interest Expense, Cr. Bank or Accrued Interest on Loans.