Your savings account balance increases by $10 because the bank paid you interest. Which categories on your balance sheet affected?.

Respuesta :

If your savings account balance increases by $10 .The categories on your balance sheet affected is: savings account and cash.

What is savings account?

Savings account can be defined as the account that help you to save your money while you earn interest on the amount saved.

In a situation where the money in your savings account increase by $10 because of the interest earne, cash will be affected under current assets on your balance sheet.

Inconclusion the categories on your balance sheet affected is: savings account and cash.

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