1 The adjusting entry to accrue interest earned would includ

1. The adjusting entry to accrue interest earned would include a:

2 The entry to record collections from credit customers would include a:

a credit to interest expense
     

Solution

1.

Adjusting entry to accrue interest earned

The answer is D.

----------------------------------------------

2.

Journal entry to record collections form credit customers

The answer is A.

Account Titles and Explanation Debit Credit
Interest Receivable ---
Interest revenue ---
1. The adjusting entry to accrue interest earned would include a: 2 The entry to record collections from credit customers would include a: a credit to interest

Get Help Now

Submit a Take Down Notice

Tutor
Tutor: Dr Jack
Most rated tutor on our site