Is interest income is debit or credit?

Answer 1

Interest income would be a credit entry, as it increases a form of revenue. If the interest income is received in cash, the entry would be:

Dr Cash

Cr Interest income

If the income was not yet received but will be at a later date, the entry would be:

Dr Interest receivable

Cr Interest income

In either case, the Interest income account would be credited.

Answer 2

All income (or revenue) maintains a credit balance. Therefore Interest Income will maintain a credit balance and therefore is a credit.