QUESTION 14

1. Bank interest of $400 earned by Biotek Ltd at 31 December 2014 will be paid on January 2015. Select the adjusting entries that need to be made on 31 December 2019.

   		Debit Interest Expense 400; Credit Interest Payable 400
   		Debit Interest Expense 800; Credit Interest Payable 800
   		Debit Interest Receivable 800; Credit Interest Revenue 800
   		Debit Interest Receivable 400; Credit Interest Revenue 400
   		None of the above