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-   -   Interest Received! (https://www.askmehelpdesk.com/showthread.php?t=67220)

  • Feb 28, 2007, 12:54 AM
    joshuadiasnz
    Interest Received!
    Hey,
    Do you know what interest received is? Is it an expense, income or liability?
  • Feb 28, 2007, 02:36 AM
    CaptainForest
    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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