180 -Our business opened a 1-year term deposit account of 180.000 TL on 01.08.2020. The interest rate is 16%. Which of the following accounts is correct to use in the accrual record to be made on 31.12.2020? a)642 Interest Income Hs. 28.800 TL (Creditor) B)642 Interest Income Hs. 9.600 TL (Creditor) NS)181 Income Accruals Hs. 19.200 TL (Borrower) D)181 Income Accruals Hs. 12.000 TL (Borrower) TO)642 Interest Income Hs. 8.800 TL (Creditor)

Date of deposit: 01.08.2021 Rate of Interest = 16% Accural date 31.12.2021

Answered: Our business opened a 1-year term…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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180 -

Our business opened a 1-year term deposit account of 180.000 TL on 01.08.2020. The interest rate is 16%. Which of the following accounts is correct to use in the accrual record to be made on 31.12.2020?

a)	642 Interest Income Hs. 28.800 TL (Creditor)

B)	642 Interest Income Hs. 9.600 TL (Creditor)

NS)	181 Income Accruals Hs. 19.200 TL (Borrower)

D)	181 Income Accruals Hs. 12.000 TL (Borrower)

TO)	642 Interest Income Hs. 8.800 TL (Creditor)

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