If a bank statement included a bank collection and related interest revenue, the journal entry to record this reconciling item should include a:
A) debit to Cash.
B) credit to Cash.
C) debit to Note Receivable.
D) debit to Note Payable.

Question

Quizplus · Accepted Answer

The bank collection increases the company's cash balance, so the journal entry should include a debit to Cash to reflect this increase.

If a Bank Statement Included a Bank Collection and Related