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If a Bank Statement Includes an EFT Receipt of $200

Question 139

Multiple Choice

If a bank statement includes an EFT receipt of $200 for interest, the journal entry to record this reconciling item should include a:

A) debit to Cash for $200.
B) debit to Accounts Receivable for $200.
C) credit to Cash for $200.
D) credit to Prepaid Interest for $200.

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