Homework Answers
.
8.
| Account | Effect on account | Debit/Credit | |
| Cash | Asset | Increase | Debit |
| Interest revenue | Equity (Revenue) | Increase | Credit |
| Account | Debit | Credit |
| Cash | 1,000 | |
| Interest revenue | 1,000 |
Increase in assets is debited, hence cash has been debited since cash is increasing.
Increase in revenues is credited, hence interest revenue has been credited since interest revenue is increasing.
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Solve these problem please
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