Would interest income be a credit or a debit for a business?

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Would interest income be a credit or a debit for a business?

2007-07-12 13:42:35 · 4 answers · asked by clemgirl20 1 in Business & Finance ➔ Personal Finance

4 answers

Just remember anything of an income or revenue nature is always a credit, be it interest income, dividend income, rental income, subscription income, professional fee income, etc.

2007-07-14 23:13:53 · answer #1 · answered by Sandy 7 · 0⤊ 0⤋

You would debit an asset account like cash or checking and credit interest income.

2007-07-12 20:52:10 · answer #2 · answered by Edward T 2 · 0⤊ 0⤋

Revenue of any sort is always a credit

2007-07-15 16:59:14 · answer #3 · answered by amaya7 5 · 0⤊ 0⤋

credit. :)

2007-07-12 20:47:32 · answer #4 · answered by rache224 2 · 1⤊ 0⤋