ENTRY NO. 35 – INTEREST ON INVESTMENTS - 10535

(Revised: 12/2021)

Purpose: This entry is made to record the interest earnings, amortization of premium, and accumulation of discount on investment securities. 

 

References: SAM sections 10403, 10424, 10425, and 10466

 

Record Interest Received On Investments

Debit/ Credit	Account	Legacy Account	Account Description	Note
Debit	1104000	1140	Cash in State Treasury	a
Debit	1501300	2014	Discount on Debt Securities	b
Credit	1200000	1313	Accounts Receivable-Revenue	c
Credit	1209000	1320	Accrued Interest Receivable	d
Credit	1501200	2013	Premiums on Debt Securities	e
Credit	4xxxxxx	8000	Revenue	f

 

Note:

1. Amount of interest received and deposited in the appropriate fund in the State Treasury. 
2. Amount of discount accumulation since the last accumulation of discount, either at the time of receipt of interest or accrual of interest as of June 30. 
3. Amount of interest accrued at June 30 is now liquidated.
4. Amount of accrued interest purchased collected at first interest date, exclusive of accrued interest purchased accounted through Account 1200000 (Legacy Account 1313) as a result of Entry No. A–5. 
5. Amount of premium amortization since the last amortization of premium, either at the time of receipt of interest or accrual of interest as of June 30. 
6. Amount of interest earned that was not accrued previously.