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Jan 19, 2007, 11:19 PM

princess_mpk

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Join Date: Jan 2007

Posts: 1

adjusting entry

I'm trying to do my accounting homework and i got stumped. Im doing an adjusting entry for Interest accrued on notes reveivable on may 31st for 100$. Would i debit notes recievable and credit interest income?

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Jan 20, 2007, 05:51 PM	#2

CaptainForest Finance & Accounting Expert Join Date: Nov 2005 Location: Canada Posts: 3,672	When is this note issues/due? Interest rate on it? You will Dr. Interest Expense Cr. Interest Payable

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