Question

rectify the following errors.

received interest 700 from Bank was wrongly credited to a bank account​

Answer 1

Answer:

bank a/c dr

to intrest a/c

Answer 2

Bank Account Debit                     1400

Interest received account credit   700

Suspense Account credit               700

Explanation

1st bank will be debited by Rs 700 for worng credit given to bank

2nd bank will be again debited by Rs 700  which has not earlier debited

3rd Interest will be credited by its real amount 700

4th the difference of total of debit and total of credit 700 will be credited to suspense account