In Receipt and Payment Account, the debit side shows receipts and the credit side shows payments. If credit (payments) exceeds debit (receipts), it means more has been paid than received, resulting in a Bank Overdraft (negative bank balance).
If the credit side of Receipt and Payment A/c is more than the debit side then the difference will be shown as :
Held on 11 Jun 2023 · Verified 13 Jul 2026.
Bank Overdraft
Commission
Bank charges
Interest
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Work through every CUET UG Financial Statements PYQ, year by year.