Multiple Choice
Tan Traders is owed $350 interest on an investment which has not been received by 3l December 2014, the last day of the accounting year. The adjusting entry is which of the following?
A) Debit bank $350; credit interest income $350
B) Debit accounts receivable $350; credit interest income $350
C) Debit interest income $350; credit accounts receivable $350
D) Debit interest income $350; credit accrued interest $350
Correct Answer:
Verified
Correct Answer:
Verified
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