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What adjusting entry to be written to recognize the amount

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Problem 1: Leather Straps Limited is owed $600 interest on an investment. The amount had not been received by the end of the financial year for the company. The adjusting entry to be written to recognize this amount is?

Select one:

a. Debit 'Interest Revenue' $600; Credit 'Accounts Receivable' $600.
b. Debit 'Interest Revenue' $600; Credit 'Accrued Interest' $600.
c. Debit 'Cash-at-Bank' $600; Credit 'Interest Revenue' $600.
d. Debit 'Accounts Receivable' $600; Credit 'Interest Revenue' $600.

Reference no: EM132794691

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