1. LESSON 21-1
Accrued Revenue
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning

2. ANALYZING AN ADJUSTMENT FOR
ACCRUED INTEREST INCOME
2
page 617
1
2
3
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
1. Debit Interest
Receivable.
2. Credit Interest
Income.
3. Record the
adjusting entry.
LESSON 21-1

3. 3
POSTING AN ADJUSTING ENTRY FOR
ACCRUED INTEREST INCOME
page 618
1
1. Post the debit.
2. Post the credit.
2
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 21-1

4. REVERSING ENTRY FOR ACCRUED
INTEREST INCOME
1
2
4
page 619
3
1. Write the heading.
2. Debit Interest Income.
3. Credit Interest
Receivable.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 21-1

5. 5
COLLECTING A NOTE RECEIVABLE
ISSUED IN A PREVIOUS FISCAL PERIOD
page 620
January 30. Received cash for the maturity value of a 90-day, 6% note:
principal, $2,000.00, plus interest, $30.00; total, $2,030.00. Receipt No. 9.
1
2
1. Credit for the principal of
the note.
2. Credit for the total interest.
3. Debit for the maturity value.
4. Post the amounts in the
General columns.
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
3
4
4
LESSON 21-1

6. 6
TERMS REVIEW




page 621
accrued revenue
intellectual property
accrued interest income
reversing entry
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 21-1

7. 6
TERMS REVIEW




page 621
accrued revenue
intellectual property
accrued interest income
reversing entry
CENTURY 21 ACCOUNTING © 2009 South-Western, Cengage Learning
LESSON 21-1