ABC Company accrued as interest revenue $7,500 that applied to 2023. The entry made on Dec. 31, 2022, was a debit to interest receivable and a credit to interest revenue. Complete the journal entry to correct this error, assuming that the books have not yet been closed. Account Title Debit Credit
ABC Company accrued as interest revenue $7,500 that applied to 2023. The entry made on Dec. 31, 2022, was a debit to interest receivable and a credit to interest revenue. Complete the journal entry to correct this error, assuming that the books have not yet been closed. Account Title Debit Credit
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter17: Accounting For Notes And Interest
Section: Chapter Questions
Problem 6SEB: JOURNAL ENTRIES (ACCRUED INTEREST RECEIVABLE) At the end of the year, the following interest is...
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