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An accrued interest income of $1,000 can be journalized as follows: ----------------------------------- / ------------------------------ Interest...

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Accounting

An accrued interest income of $1,000 can be journalized as follows: ----------------------------------- / ------------------------------ Interest Receivable $1,000 Interest Income $1,000 --------------------------------------------------------------------- Is the journal entry recorded above accurate? If not, what is the correct entry? Explain your answer.

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