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Term of the Day...interest income

Posted on 10 October, 2016 at 12:22

Term of the Day...interest income
The term that companies use on their income statement for reporting the interest earned on cash temporarily held in savings accountscertificates of deposits, or other investments. Because the interest wasn't part of the original investment, they record it separately, as interest income.

On the monthly deposit statement they noticed they earned 4 dollars in interest income. It was only one percent, but it was still extra money.Usage Example

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