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Home > Business & Careers > Accounting   »   Interest Received!

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Old Feb 27, 2007, 11:54 PM
joshuadiasnz
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Interest Received!
Hey,
Do you know what interest received is? Is it an expense, income or liability?

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Old Feb 28, 2007, 01:36 AM   #2  
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Interest that YOU receive is REVENUE.

It is something that you EARNED.

So therefore, it is revenue, aka income

The JE would be:
Dr. Cash
Cr. Interest Revenue
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