Question

in case the due date of falls after the date of closing the account the interest from the closing to such date is known as red ink interest true or false

Answer 1

Answer:

True

Explanation:

Red Ink Interest is treated as negative interest If the due date of a bill falls after the closing date of the account, no interest is charged for that. However, interest from the closing date to such due date is written in Red Ink at the appropriate side of Account Current.