The entry for recording the contribution to PER reserves from the profit earned by investment accounts by

Question:

The entry for recording the contribution to PER reserves from the profit earned by investment accounts by the IFI is as follows:

a. Debit profit on investment accounts (income), Credit cash

b. Debit profit on investment accounts (income), Credit PER

(quasi-equity)

c. Debit PER (quasi-equity), Credit cash

d. Debit PER (quasi-equity), Credit profit on investment accounts (income)

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