Question: The closing journal entry for interest received is: Select one: a. Debit Trading and credit Profit & Loss b. Debit Interest Received and credit Trading

The closing journal entry for interest received is:

Select one:

a. Debit Trading and credit Profit & Loss

b. Debit Interest Received and credit Trading

c. Debit Profit & Loss and credit Interest Received

d. Debit Interest Received and credit Profit & Loss

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