The six-monthly interest of $1500 on government bonds was due on 31 July. The balance on the

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The six-monthly interest of $1500 on government bonds was due on 31 July. The balance on the interest received account was $1750 on 30 June.

You are required to prepare the journal for:

• adjustment at 30 June 2022

• closing the account at 30 June 2022, and

• reversal on 1 July 2022.

Also prepare:

• general ledger accounts for interest received and revenue accrued that show the data given, and the posting of the journals on the required dates.

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Accounting An Introduction To Principles And Practice

ISBN: 9780170403832

9th Edition

Authors: Edward A. Clarke, Michael Wilson

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Question Posted: Feb 23, 2024 03:01 PM

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The six-monthly interest of $1500 on government bonds was due on 31 July. The balance on the

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Adjusting and Closing Entries for Interest Received June 30 2022 July 1 2023 Scenario Sixmonthly int...View the full answer

Accounting An Introduction To Principles And Practice

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