ABC Company accrued as interest revenue $7,500 that applied to 2023. The entry made on Dec. 31, 2022, was a debit to interest receivable and a credit to interest revenue. Complete the journal entry to correct this error, assuming that the books have not yet been closed. Account Title Debit Credit

ABC Company accrued as interest revenue $7,500 that applied to 2023. The entry made on Dec. 31, 2022, was a debit to interest receivable and a credit to interest revenue. Complete the journal entry to correct this error, assuming that the books have not yet been closed. Account Title Debit Credit

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter6: Cash And Receivables

Section: Chapter Questions

Problem 9RE: Refer to RE6-8. On April 23, 2020, McKinncy Co. receives a check, from Mangold Corporation for...

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ABC Company accrued as interest revenue $7,500 that applied to 2023. The entry
made on Dec. 31, 2022, was a debit to interest receivable and a credit to interest
revenue. Complete the journal entry to correct this error, assuming that the books
have not yet been closed.
Account Title
Debit
Credit

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