Question

journal entry worksheet
1 2
prepare an adjusting entry to record the accrued interest on the lee note.
note: enter debits before credits.
date general journal debit credit
december 31 interest receivable
interest receivable
record entry clear view general journal

Explanation:

Step1: Identify the accounts involved

The interest that has been earned but not yet received is an asset (Interest receivable) and the income from the interest is Interest revenue.

Step2: Determine the debit - credit

We debit the asset account (Interest receivable) to increase it and credit the revenue account (Interest revenue) to recognize the income.

Answer:

Date	General Journal	Debit	Credit
December 31	Interest revenue		[Amount of accrued interest]