Question

How interest in bank overdraft is treated
In balance sheet

Answer 1

Answer:

Interest on bank overdraft is debited in the bank pass book as it is charged by the bank and reduces the balance in our bank pass book. For the business, it is an expense, which is credited in the cash book when paid and debited in the Profit and loss account at the time of preparing the final accounts.

Answer 2

Explanation:

Mark the above ans as brainliest. ......✌✌❤