ENTRY NO. A–5, ACCRUE ACCOUNTS RECEIVABLE INTEREST EARNINGS ON INVESTMENTS - 10604

Purpose: To accrue accounts receivable for interest earnings on investments as of June 30 with appropriate adjustment of accrued interest purchased, premium, and discount accounts. The State Controller’s Office will issue a journal entry for the interest earned.

References: SAM Sections 8210, 8217, 10424, and 10425

Note:  

1. Interest accrued since the last interest date.
2. Discount accumulation since the last interest date.
3. Accrued interest not yet collected.
4. Premium amortization since the last interest date.
5. Interest earned.