Question

received interest on investment journal entry​

Answer 1

The amount of interest that has been earned but not yet collected in cash is referred to as interest receivable. A debit to the interest receivable account and a credit to the interest income account are the most common journal entries used to record this transaction.

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Answer 2

Answer:

Cash A/c dr

To interest on investment

Explanation:

• (It refers to the interest earned on an investment.)
• We are getting interest on our cash investments, and the money we get will be deducted from our real account, which states
• Debit the money that comes in
• Give credit where credit is due.
• Because cash is going into the business in this transaction, it will be debited.
• We've also received interest on our investments, which is a source of income for us, and our earnings are credited to a nominal account, which says
• all costs and losses, Dr.
• All gains and revenues are rounded up to the nearest tenth of a cent

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