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[Debit] Cash / bank
[Credit] Unearned Interest Income
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∙ 9y ago
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What is the journal entry for unearned income?
debit unearned incomecredit services liability
What is the journal entry to record accrued interest income?
debit interest receivablecredit interest income
Who should create the journal entry for interest income?
debit interest receivablecredit interest income
What is the journal entry for prepaid income?
The journal entry for prepaid income is a debit to the Cash account and a credit to the Unearned Revenue account. The Unearned Revenue account is a liability. The rationale for such an entry is that this is income received in advance. This means that the income has not been earned since the services have not yet been performed. When the services have been performed it is appropriate to recognize the revenue and offset the liability account, unearned revenue.
What is the journal entry to interest receivable?
debit interest receivablecredit interest income
What is the journal entry for unearned income?
debit unearned incomecredit services liability
Income received in advance journal entry?
income recived a/c dr to unearned income
Journal entry for income received in advance?
Debit customer depositsCredit unearned revenue
What is the journal entry to record accrued interest income?
debit interest receivablecredit interest income
What is the journal entry for accrued interest income from an investment?
Debit interest receivableCredit interest income
Who should create the journal entry for interest income?
debit interest receivablecredit interest income
What is the journal entry for prepaid income?
The journal entry for prepaid income is a debit to the Cash account and a credit to the Unearned Revenue account. The Unearned Revenue account is a liability. The rationale for such an entry is that this is income received in advance. This means that the income has not been earned since the services have not yet been performed. When the services have been performed it is appropriate to recognize the revenue and offset the liability account, unearned revenue.
What is the journal entry to interest receivable?
debit interest receivablecredit interest income
What is the journal entry for interest on credit?
debit interest receivablecredit interest income
What is the journal entry for interest receivable?
[Debit] Interest Receivable [Credit] Interest Income
What is the journal entry when a client owes interest?
Debit interest receivableCredit interest income
What is the journal entry for accrued for interest on certificate of deposit?
debit interest receivablecredit interest income
