In the last question 2.4.1 was accrued revenue 40,350 or 400

[mottooooman]

was it like this--- accrued interest revenue 50
                        --  intrest revenue                     50
 
or accrued interest revenue  350
                 interest revenue           350

or accrued interest revenue 400
                  interest revenue            400

and what was 2.4.2

[ivslt247]

i think it was 350 350 because although you receive 8 months worth, then u have to account for june also which make it go back up by 50? im not sure..

[MaddehZ]

should be 50, we received the 400 already

then bda to close 450 off to the profit and loss summary

[24309]

i got 50 and 50

[Anon123]

should of been 50 and 50

i got 100 and 100 cuz i thought it said may 1, life over

[s.w.]

yeah, 50,50

[abzzzz]

i got 50 50

[leiza88]

Wasn't the entry to record 2.4.1 (not asked in the question):

DR) Accrued Interest Revenue 450
CR) Interest Revenue 450

Then what 2.4.1 asked for (the 'necessary balance day adjustment in the General Journal):

DR) Bank 400
CR) Accrued Interest Revenue 400

Then this leaves the 50 in Accrued Interest Revenue for the month of June to be paid off in 2.4.2?

Or have I completely screwed myself over haha

[Mario]

Wasn't the entry to record 2.4.1 (not asked in the question):

DR) Accrued Interest Revenue 450
CR) Interest Revenue 450

Then what 2.4.1 asked for (the 'necessary balance day adjustment in the General Journal):

DR) Bank 400
CR) Accrued Interest Revenue 400

Then this leaves the 50 in Accrued Interest Revenue for the month of June to be paid off in 2.4.2?

Or have I completely screwed myself over haha

i am sorry to inform you that you are indeed incorrect

[leiza88]

Yeah I just checked the book and I'm wrong on 2.4.1. Was 2.4.2 at least 50 for Accured Interest Revenue and 50 for Interest Revenue in the CRJ?

[Mario]

Yeah I just checked the book and I'm wrong on 2.4.1. Was 2.4.2 at least 50 for Accured Interest Revenue and 50 for Interest Revenue in the CRJ?

yea noice

[Furbob]

so there was 600 per annum starting from Oct 1

Oct 1 ~ May 31 = 600 x (8/12) = $400 paid, there is $200 left and 4 months to go, making it $50 per month

at Jun 31 there is $50 accrued so in the General Journal it should be 50; 50

in the CRJ, the payment was for July 30/31/idkmydateslol - so that's 2 months paid off, $100 and you have the $50 accrued from June

so in the CRJ its $100 in the bank column and $50, $50 for interest rev/accrued interest rev

AMIRITE D:

[BoredSatan]

pretty sure its 50 and 50 because we already received the rest of it before

[Barth]

The adjustment was:
DR - Accrued Interest Revenue 50
CR -              Interest Revenue 50

The receipt was:

Accrued Interest Revenue - 50
Interest Revenue - 50