interest received?

beebee

Please can somebody put me put of my misery and tell me what you did with interest received on section 2 of today's exam paper.

ccreaven

beebee wrote: »

Please can somebody put me put of my misery and tell me what you did with interest received on section 2 of today's exam paper.

I put it as income on the p&l not sure if that was right?:001_smile:

Essexgal

I put it as other income under gross profit not sure if thats right though

MOHMEDSALIM PATEL

Intrest Received

I Believe You Talking About Section 2
Intrest Received Is An Income Therefore It Should Be Added To Gross Profit.under Heading Other Income Before Other Expenses.

numberjunky

Correct Mohmedsalim - Interest Received is an INCOME and should be added after Gross Profit figure.

It's an easy thing to forget. I usually forget Discount Received - but I nailed it this time with Interest Rec. :thumbup1:

Primble

I forgot