Interest earned on money deposited in bank should be ___.

Credited to Interest account

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Credited to bank account

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Debited to Interest account

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None of the above

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Solution

The correct option is A
Credited to Interest account

Interest account is credited in case of interest earned on money deposited in bank.

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The bank has credited an interest of Rs 100 in the account. Which account shall be debited in such case?

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