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Interest and Dividends Collected by Bank

The bank has ...

Question

The bank has collected an interest of Rs 600 & has credited the same in the pass book. What shall be the adjustment in the balance as per cash book?

A

Rs 600 shall be subtracted

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B

Rs 600 shall be added

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C

Rs 1,200 shall be subtracted

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D

Rs 1,200 shall be added

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Solution

The correct option is B
Rs 600 shall be added

The interest of Rs 600 collected by the bank shall be added to the balance as per cash book.

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