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5) An accrued interest income of $1,000 can be journalized as follows: Interest Receivable $1.000 Interest Income $1,000 Is the journal entry recorded above accurate?

5) An accrued interest income of $1,000 can be journalized as follows: Interest Receivable $1.000 Interest Income $1,000 Is the journal entry recorded above accurate? If not, what is the correct entry? Explain your answer. (20 pts.)

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