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    joshuadiasnz's Avatar
    joshuadiasnz Posts: 1, Reputation: 1
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    #1

    Feb 28, 2007, 12:54 AM
    Interest Received!
    Hey,
    Do you know what interest received is? Is it an expense, income or liability?
    CaptainForest's Avatar
    CaptainForest Posts: 3,645, Reputation: 393
    Ultra Member
    		  
    #2

    Feb 28, 2007, 02:36 AM
    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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