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| Interest on Sinking Fund investment is credited to which account? |
Profit & Loss A/c Sinking Fund A/c General Reserve A/c Sinking Fund Investment A/c |
| Sinking Fund A/c |
| Profit or loss on sale of investments is transferred to sinking fund. After the redemption of all debentures, balance left in sinking fund is transferred to general reserve but the portion of the profit on sale of sinking fund investment is preferably transferred to capital reserve. |
