If a Bank Statement Includes an EFT Receipt of $200

question 39

Multiple Choice

If a bank statement includes an EFT receipt of $200 for interest,the journal entry to record this reconciling item should include a:

• A)debit to Cash for $200 and a credit to Interest Revenue for $200.
• B)debit to Accounts Receivable for $200 and a credit to Interest Revenue for $200.
• C)debit to Interest Revenue for $200 and credit to Cash for $200.
• D)debit to Interest Expense for $200 and credit to Prepaid Interest for $200.

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Definitions:

Novel Inputs

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Amphetamine

A potent central nervous system stimulant, used medicinally and recreationally, which can enhance alertness and energy.