Direct deposit made by debtors into a businessman’s bank account is recorded on the credit side of Pass Book.
State whether the following statements are True or False with reason:
Direct deposit made by debtors into a businessman’s bank account is recorded on the credit side of Pass Book.
4 views
1 Answers
This statement is True.
The credit side of the passbook means deposits made in the bank account. When direct deposits are made by debtors into a businessman’s bank account. It increases the bank balance and it is recorded on the credit side of Pass Book.
4 views
Answered