An accrued interest income of $1,000 can be journalized as follows: Interest Receivable $1,000 Interest Income $1,000
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Question:
An accrued interest income of $1,000 can be journalized as follows:
Interest Receivable $1,000 Interest Income $1,000
Is the journal entry recorded above accurate? If not, what is the correct entry? Explain your answer.
Related Book For
Cost Management Accounting and Control
ISBN: 978-0324559675
6th Edition
Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan
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