Bank charges on a wire transfer to a supplier

Transaction

A company pays a supplier of goods an invoice of $4,200.00, recorded earlier in Accounts Payable, by wire transfer. The bank charges a wire fee of $15.00, taken from the company’s account together with the transfer.

Assumptions: The bank fee bears no VAT.

Accounts

Tap an account, then choose Debit or Credit and type the amount. × removes a line.

Debit

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Credit

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Debits $0.00Credits $0.00