Question

"interest earned but not received" should be classified as accrued asset accrued liability prepaid expense unearned revenue

Answer 1

Interest earned but not received should be classified as an Accrued asset.

Answer 2

Answer:

Interest earned but not received should be classified as accrued asset.

Explanation:

The given question is incomplete. the question must be

Question:

"Interest earned but not received" should be classified :

1. accrued asset
2. accrued liability
3. prepaid expense
4. unearned revenue

Interest earned but not received should be classified as accrued asset.

Interest earned for the year is an income but the same is not received means income is to be received in future i.e. accrued in the current year but to be realized in next year.

Interest accrued is classified as current asset. In the next financial year entire amount is realized in the form of cash.