Accountancy, asked by jasmine26052004, 1 day ago

received interest on loan from the debit or journal entry for this transaction

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Answered by diyaaparathasarathi

Answer:

As the normal accounting rule, 'debit the receiver, credit the giver' as the interest is being received we credit it. Therefore making the entry complete, Cash account debited and interest account credited

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received interest on loan from the debit or journal entry for this transaction​

Answers

received interest on loan from the debit or journal entry for this transaction