Question
Your business purchased an investment security on April 1 that will pay $90 interest on June 30. Which of the following adjusting entries would be
Your business purchased an investment security on April 1 that will pay $90 interest on June 30. Which of the following adjusting entries would be made on April 30?
| a) Debit Interest Revenue and credit Interest Receivable for $90 | ||
| b) | Debit Interest Receivable and credit Interest Revenue for $30 | |
| c) | Debit Interest Revenue and credit Interest Receivable for $30 | |
| d) | Debit Interest Receivable and credit Interest Revenue for $90 |
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Risk Based Management Led Audit Driven Safety Management Systems
Authors: Ron C. McKinnon
1st Edition
1498767923, 978-1498767927
