020-21 >> ACT 112-1 (Lec) >> Principles of Accounting 1 Qui Canada Traders is owed $2 500 interest on an investment at ABC Bank, which has not been received by 31 December 2020, the tout day of the accounting year. The adjusting entry is which of the following? Select one: a. Debit bank $2 500; Credit interest income $2 500 b. Debit interest income $2 500; Credit accrued interest S2 500 c. Debit accounts receivable $2 500; Credit interest income $2500 d. Debit interest income $2 500; Credit accounts receivable $2.500 your turtion fees for every new full time & fully pa! 2020-21 >> ACT 112-1 (Lec) >> Principles of Ac It is correct that each adjustment at the end of the accounting period: Select one: a. affects either the income statement or the balance sheet. b. only affects the income statement. c. has at least one effect on the income statement and one effect on the balance sheet. d. always has an effect on the bank account