Question

interest received RS.200
what is it's journal entry

Answer 1

Note- Interest always is in form of cash and hence interest receive means cash come in the business and that's why cash increase ,i.e debit increases so

cash account dr

Against it ,cash account is debited to interest account So cash is come out from interest account . Hence interest account is credited .

i.e

To interest account.

So the

$\color{red} \huge{journal \: entry \: will \: be \: }$

$\color {lightgreen}\boxed{cash \: account \: dr \: }$

$\color{lightgreen} \boxed{to \: interest \: account}$

Hope it's help you all✌️☺️

Answer 2

Explanation:

cash a/c dr 200

to interest received a/c 200

(being interest received)