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What is known as direct debit in bank reconcilation?

Asked by: prashanthi2288 | Member Since Jul-2009 | Asked on: Jul 21st, 2009

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c7831887

Answered On : Jul 23rd, 2009

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The charges, Interest and other fess debited by bank is called direct debit. We have to pass entries accordingly after reconciliation based on the bank statement.

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What is known as direct debit in bank reconcilation?

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