Question

The company's bank reconciliation at June 30 included interest earned in the amount of $150. Complete the necessary journal entry of the account names and dollar amounts.

Answer 1

Answer:

Given that,

Company's bank reconciliation at June 30 included interest earned = $150

So, it must be cash must be debited and interest revenue must be credited in the accounts.

Therefore, the journal entry is as follows:

Cash A/c Dr. $150

     To Interest revenue   $150

(To record the interest revenue earned)