A-LevelAccountingPreparation of financial statements9706/12 · May/June 2016 · Q91 Mark
A company received interest of $8800 during the financial year. Interest of $700 was due at the beginning of the year and $850 at the end of the year. Which entry appeared in the interest received account to make the transfer to the income statement?
A$8650 credit
B$8650 debit
C$8950 credit
D$8950 debit
✓ Correct answer
D: $8950 debit
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