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DescriptionThe company's bank reconciliation at June 30 included the following item. The bank statement included a credit memorandum in the amount of $150 for interest. Complete the necessary journal entry by selecting the account names and dollar amounts from the drop-down menus.

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thaovtp1407

Answer:

Explanation:

Given that $150 is the interest earned of the company at the end of June

So it should be a cash debit and interest income should be deposited in the account as:

Journal entry

   Cash A/c                      $150     Dr.

   To Interest revenue   $150

Hope it will find you well.

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