Is interest income is debit or credit?

1 answer

Answer

1254118

2026-04-08 23:10

+ Follow

Interest income would be a credit entry, as it increases a form of revenue. If the interest income is received in cash, the entry would be:

Dr Cash

Cr Interest income

If the income was not yet received but will be at a later date, the entry would be:

Dr Interest receivable

Cr Interest income

In either case, the Interest income account would be credited.

ReportLike(0ShareFavorite

Copyright © 2026 eLLeNow.com All Rights Reserved.