Interest received from bank is shown as ...

General Accounting Principles Accounting cycles Add to Study Deck

Interest received from bank is shown as

Cr side of bank column

Dr side of bank column

Cr side of cash column

None of the above

Explanation:

Interest received from bank is shown as Dr side of bank column

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interest received from bank should be credited in bank column

interest received from bank should be credited in bank column.

But intrest is a kind of income then how we should show in debit side of the bank column irrespective of Cr side of the bank column?

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