Question

Received interest.
journal entry?

Answer 1

cash a/c Dr.

to interest received

Answer 2

Journal entry

Explanation:

                                  Books of (----Limited)

                                      Journal Entry

Date         Account Title and Explanation       Debit   Credit

               Cash / Bank                          A/c Dr.     xxx

                To Interest received A/c                         xxx

                            (Being commission received)

Note: Interest received is a gain, According to journal rule all gain must be credited.

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