Question

Interest recieved is debit or credit in trail balance

Answer 1

Explanation:

When the actual interest payment is received, the entry is a debit to the cash account and a credit to the interest receivable account, thereby eliminating the balance in the interest receivable account.

Answer 2

Answer:

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When the actual interest payment is received, the entry is a debit to the cash account and a credit to the interest receivable account, thereby eliminating the balance in the interest receivable account.