Accountancy, asked by Anjalikaushalrana, 1 year ago

What is the journal entry of Interest received on investment collected by banks amount ₹75 ?

Answers

Answered by aarohi75143
17
interest recieved ac.........dr
to bank ac

hope it may help u

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Answered by adventureisland
3

Interest recieved ac.........dr  75

to bank ac                                       75

Explanation:

In this particular account the interest is being received by the bank which is of 75 rupees kiran interest received it is a liability and since liability is decreasing we will debited this is based on the golden rule of accounting which says that when liabilities increase we credit then and when the decrease be debited. Here the interest received is getting reduced therefore we will debit it.

Qatar bank account as money is being deducted from it. Based on the golden rule of accounting when assets increase we debit them and when they reduce we credit them.

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