Asked by Carlos Paredes Monreal on May 18, 2024
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When recording bond interest Interest Receivable is reported as a fixed asset in the balance sheet.
Interest Receivable
The amount of interest income that has been earned but not yet received in cash.
Fixed Asset
A long-term tangible piece of property or equipment that a business uses in its operations to generate income.
Balance Sheet
A financial report that outlines a corporation's assets, liabilities, and owner's equity at a particular moment.
- Acquire knowledge on how dividends and interest are accounted for in investment income.
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Learning Objectives
- Acquire knowledge on how dividends and interest are accounted for in investment income.
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