Question

Interest on deposit credited.

Answer 1

Answer:

Interest on Deposit

Interest earned on various saving accounts may be credited directly into the accounts by the bank at the end of a month. ... Therefore, until the interest received is recorded in the cash book, the balance as per bank statement will be higher than the cash book balance.

Answer 2

Answer:

Interest earned on various saving accounts may be credited directly into the accounts by the bank at the end of a month.