This section is from the book "Elementary Banking", by John Franklin Ebersole. Also available from Amazon: Elementary Banking.
Assume the bank clips and collects its six months' coupons on an investment of $10,000 American Telephone & Telegraph Consolidated 5's. The entries on receipt of the funds for the coupons are as follows:
Debit: Cash (11) ................................................... | $250 | |
Credit: Interest on Investments (32) ........ | $250 |
 
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