debit interest receivable
credit interest income
[debit] Interest expense [credit]interest payable
[Debit] Interest Receivable [Credit] Interest Income
[Debit] Cash / bank [Credit] Unearned Interest Income
[Debit] cash / bank [credit] interest on bond
(debit) interest income (credit) (debit) interest income (credit)
[debit] Interest expense [credit]interest payable
[Debit] Interest Receivable [Credit] Interest Income
[Debit] Cash / bank [Credit] Unearned Interest Income
[Debit] cash / bank [credit] interest on bond
(debit) interest income (credit) (debit) interest income (credit)
Debit Accrued Interest Expense Credit Accrued Interest Payable
[Debit] Interest on capital account xxxx [credit] Capital account xxxx
[Debit] Interest expense xxxx [Credit] Interest payable xxxx [Debit] Interest payable xxxx [Credit] Cash / bank xxxx
[Debit] Accrued interest income [Credit] Notes payable
[Debit] Interest receivable on marketable securities [Credit] interest earning on marketable securities
[Debit] Interest on Capital 5000 [Credit]Cash/Bank 5000
The journal entry for paid interest on a bank loan involves debiting the Interest Expense account and crediting the Cash account. For example, if $500 in interest is paid, the entry would be: Debit: Interest Expense $500 Credit: Cash $500 This reflects the expense incurred for borrowing and the reduction in cash due to the payment.