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Answer» Hi friend,
Journal entry for this :-
Interest A/c-----------Dr. To Bank A/c ( Being, interest CHARGED or collected by bank )
Explanation :-
Interest reveived or receivable is the AMOUNT that has been EARNED , but which has not yet been received. In views of golden rule , it can be classified in nominal A/c and it can AFFECTS two A/c ' Interest A/c' and 'BankA/c' . So , golden rule says all the expeses and losses are debited and all the gains and income credited.
So, this journal entry is appropiate...i hope it helps
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