A debit to Interest Receivable and a credit to Interest Income are needed to narrative interest that have be ear A debit to Interest Receivable and a credit to Interest Income are
A debit to Interest Receivable and a credit to Interest Income are needed to record interest that have been earn but not yet received
this answer is true are false
Answers: true
True. Interest is usually compensated quarterly. So you are earning it even though it will be rewarded to you later. To narrative it in the correct accounting extent you record the receivable. When you receive pay-out, you will credit the receivable.
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