Question

The company's bank reconciliation at June 30 included the following item. The bank statement included a credit memorandum in the amount of $150 for interest. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.

Answer 1

journal entry are given below

Step-by-step explanation:

given data

amount of interest = $150

solution

we know that as June 30 the interest earn company bank reconciliation is

$150

Therefore, it should be a cash debit and interest income should be deposited in the account as

journal entry are as June 30

Cash A/c $150 Dr.

To Interest revenue $150

record the interest revenue earned