Which A/c is credited for the transfer o

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Target Exam

CUET

Subject

Accountancy

Chapter

Issue and Redemption of Debentures

Question:

Which A/c is credited for the transfer of interest on Debenture Redemption Fund Investment?

Options:

Debenture Redemption Fund A/c

Debenture Redemption Fund Investment A/c

Bank A/c

Statement of P & L

Correct Answer:

Debenture Redemption Fund A/c

Explanation:

Debenture Redemption Fund A/c is credited.
Interest on Sinking Fund Investment A/C......Dr.
To Sinking Fund A/C