On November 30, you receive the bank statement and note that you have earned $460 in interest
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Question:
On November 30, you receive the bank statement and note that you have earned $460 in interest revenue. Which of the following statements is true?
A. You should book the interest by debiting cash and crediting interest receivable
B. Failure to record this amount will overstate assets and understate revenue
C. The bank has made an error and should issue a debit memoranda to the company
d. None of the above
I select D
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