Choo Ltd invested $200 000 with a bank for one year at 12% on 1 September 2011 (interest payable at end of loan).What is the adjusting journal entry at balance date,30 June 2012?
$$\begin{array} { l l l l l }
\text { A. } & \text { DR Accrued revenue } & \$ 18000 & \text { CR Interest revenue } & \$ 18000 \
\text { B. } & \text { DR Accrued revenue } & \$ 20000 & \text { CR Interest revenue } & \$ 20000 \
\text { C. } & \text { DR Accrued revenue } & \$ 24000 & \text { CR Interest revenue } & \$ 24000 \
\text { D. } & \text { DR Unearned revenue } & \$ 18000 & \text { CR Interest revenue } & \$ 18000
\end{array}$$

Question

Choo Ltd invested $200 000 with a bank for one year at 12% on 1 September 2011 (interest payable at end of loan).What is the adjusting journal entry at balance date,30 June 2012?
$$\begin{array} { l l l l l } 
\text { A. } & \text { DR Accrued revenue } & \$ 18000 & \text { CR Interest revenue } & \$ 18000 \
\text { B. } & \text { DR Accrued revenue } & \$ 20000 & \text { CR Interest revenue } & \$ 20000 \
\text { C. } & \text { DR Accrued revenue } & \$ 24000 & \text { CR Interest revenue } & \$ 24000 \
\text { D. } & \text { DR Unearned revenue } & \$ 18000 & \text { CR Interest revenue } & \$ 18000
\end{array}$$

Quizplus · Accepted Answer

The Answer of Choo Ltd invested $200 000 with a bank for one year at 12% on 1 September 2011 (interest payable at end of loan).What is the adjusting journal entry at balance date,30 June 2012?
$$\begin{array} { l l l l l } 
\text { A. } & \text { DR Accrued revenue } & \$ 18000 & \text { CR Interest revenue } & \$ 18000 \
\text { B. } & \text { DR Accrued revenue } & \$ 20000 & \text { CR Interest revenue } & \$ 20000 \
\text { C. } & \text { DR Accrued revenue } & \$ 24000 & \text { CR Interest revenue } & \$ 24000 \
\text { D. } & \text { DR Unearned revenue } & \$ 18000 & \text { CR Interest revenue } & \$ 18000
\end{array}$$

Choo Ltd Invested $200 000 with a Bank for One