Discussion Post: Book Keeping
Discuss an investment made by the business matures. Record the principle of $5,000.00, and interest $521.22 in the cash receipts journal. Enter the total amount as cash debit, and make a note of the deposit in the checkbook. (Remember to record the principal separate from the interest. Record the interest as Interest Income). How is this transaction posted?
The response should include a reference list. Using one-inch margins, Times New Roman 12 pnt font, double-space and APA style of writing and citations.