
Asked in Accenture
What is the entry of interest received in advance?

AnswerBot
1y
Entry of interest received in advance refers to the accounting entry made when a company receives interest income before it is earned.
Interest received in advance is recorded as a liability on the bal...read more
Chandan Chaubey
5mo
Bank a/c dr.
To interest a/c
Pankaj Kumar
1y
By Interest received a/c dr
To interest received in advance a/c cr
Pankaj Kumar
1y
Entry of interest received in advance refers to the accounting entry made when a company receives interest income before it is earned. Interest received in advance is recorded as a liability on the ba...read more
Esther Joshua
1y
Entry of interest received in advance refers to the accounting entry made when a company receives interest income before it is earned.
Interest received in advance is recorded as a liability on the bal...read more
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