What is meant by debit balance in passbook?

Open in App

Solution

Debit balance in passbook indicates overdraft.

Suggest Corrections

Similar questions

Find the balance as per cash book from following details:

Debit balance in passbook: Rs 6,700

Direct deposits by customers: Rs 4,800

Bank interest debited by bank: Rs 200

Insurance premium paid by bank: Rs 2,000

What does favourable balance in passbook indicates?

What does unfavourable balance in passbook indicates?

Join BYJU'S Learning Program