XYZ Invested $1 Million with a Bank for 1 Year

question 9

Multiple Choice

XYZ invested $1 million with a bank for 1 year on 1 May 2016 at 9 per cent (interest payable at end of loan) .What is the debit side of the adjusting entry at 30 June 2016?

• A) Dr Accrued revenue receivable $15 000
• B) Dr Interest revenue $15 000
• C) Dr Unearned revenue $15 000
• D) None of the answers provided

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Definitions:

Alternative Work Arrangements

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Additional benefits supplementing an employee's salary, such as medical insurance, paid vacations, and retirement plans.

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An economic system characterized by a shift from industrial production to services, information, and knowledge managing.

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