So I was given an unadjusted trial balance (attached picture) And this is the adjustment I have to make: "The bank account was changed to an interest bearing account in December. The amount of interest earned in December was $54. This amount was reported on the december bank statement which was received early in January and has not been recorded on the books" Can you tell me what accounts I would debit and credit? and how I would solve this step by step if need be.
So I was given an unadjusted trial balance (attached picture) And this is the adjustment I have to make: "The bank account was changed to an interest bearing account in December. The amount of interest earned in December was $54. This amount was reported on the december bank statement which was received early in January and has not been recorded on the books" Can you tell me what accounts I would debit and credit? and how I would solve this step by step if need be.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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So I was given an unadjusted
And this is the adjustment I have to make:
"The bank account was changed to an interest bearing account in December. The amount of interest earned in December was $54. This amount was reported on the december bank statement which was received early in January and has not been recorded on the books"
Can you tell me what accounts I would debit and credit? and how I would solve this step by step if need be.
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