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Journal Entries for Bank Reconciliation
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Problem 1
Problem 2
Problem 3
Problem 4
Problem 5
Problem 6
Problem 7
Journal Entries for Bank Reconciliation
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6. Internal Controls and Reporting Cash / Journal Entries for Bank Reconciliation / Problem 7
Problem 7
How should a company record interest revenue received from the bank?
A
Debit Interest Revenue; Credit Cash
B
Debit Cash; Credit Interest Revenue
C
Debit Accounts Payable; Credit Cash
D
Debit Cash; Credit Accounts Receivable
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