What is the meaning of : bank collected interest ??... Please explain me....
Answers
Answered by
0
while investing money or taking loan apart from the actual money the bank authorities produce a little percentage of money for their profit so that's called as interest
VaisakhSuresh:
these lenders and banks who gives money are grouped into debit side!! understood?
sorry!!
But it is receipt in cash book
ehh?
Yes
Wait a min... In cash book debit means income as receipt column is in Dr. Side... Please understand & & don't write incorrect content...
if u kno all these answers then why did u asked?
But I just wanted to know something else..
leave it..
Answered by
0
When we take loan from bank, we need to pay some interest on the borrowed amount at a fixed percent.
It is nothing but interest being collected by bank.
It is nothing but interest being collected by bank.
But I am asking with regard to cash book....
Similar questions