Debit Interest Receivable, Credit Cash Is the Correct Double Entry

question 58

True/False

Debit interest receivable, Credit cash is the correct double entry to record the receipt of interest from the bank.

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Definitions:

Diabetes

A metabolic disorder characterized by high blood sugar levels over a prolonged period due to insulin resistance or inadequate insulin production.

Graves' Disease

An autoimmune disorder that leads to hyperactivity of the thyroid gland, causing symptoms like weight loss, rapid heart rate, and sweating.

Glycosuria

The presence of excess sugar in the urine, typically indicating diabetes or other glucose metabolism disorders.

Polyuria

Excessive secretion and discharge of urine.