After running the unadjusted trial balance at the end of the year, you see that a customer owes you interest income on money that you have lent to her in exchange for a piece of equipment she bought. In preparing your adjusting journal entry, you would debit the Select an answer Interest Payable Interest Income Interest Receivable account and credit the Select an answer Interest Payable Interest Income Interest Receivable account.

Box 1: Select the best answer

Box 2: Select the best answer