Hi
The business has received an interest of £50 from its BMM saving account.What should be the accounting effect of the same.
Thanks,
Rakhee
Replies (6)
Please login or register to join the discussion.
The accounting effect would be the creation of a need to make entries in the accounting records to record the transaction in question.
If you do not know the difference between revenue and capital revenue, turn the computer off now. Engage someone that does know the difference, it will then be safe to switch the computer back on.