An accrued interest income of $1,000 can be journalized as follows: Interest Receivable $1,000 Interest Income $1,000

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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 answer-question

Cost Management Accounting and Control

ISBN: 978-0324559675

6th Edition

Authors: Don R. Hansen, Maryanne M. Mowen, Liming Guan

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Posted Date: Aug 20, 2020 06:30 PM

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An accrued interest income of $1,000 can be journalized as follows: Interest Receivable $1,000 Interest Income $1,000

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Yes the journal entry is a... View the full answer

Cost Management Accounting and Control

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