The checking account of a small healthcare business pays interest each day the balance in the account exceeds $1,000. The bank credits the account with the accumulated interest at the end of each month. How should the interest income be posted?
A. As a credit to Cash and a debit to Interest Income
B. As a credit to Interest Income and a debit to Cash
C. As a credit to Miscellaneous Income
D. As a credit to Short-Term Investments
Answer: B
You might also like to view...
What is persuasive technology?
a. Technology developed to exert subliminal manipulation of patients b. Technology made for marketing and communication purposes c. Technology created to strengthen group beliefs and convictions d. Technology designed to change attitudes or behaviors
Why should patients sign an acknowledgment letter when they don't follow the dentist's advice?
What will be an ideal response?
Stage III anesthesia is further divided into four __________
Fill in the blank(s) with correct word
Electrodes placed on the mother's abdomen can pick up the electrical activity of
A) the maternal heart only B) fetal blood vessels C) both the maternal and fetal heart D) the fetal heart only