10605     ENTRY NO. A–6 [RECEIVABLES DUE FROM SURPLUS MONEY INVESTMENT FUND AND CONDEMNATION DEPOSITS FUND ARE ACCRUED FOR INTEREST EARNINGS]
(Revised 6/04)

Nature of Transaction:
Receivables due from the Surplus Money Investment Fund and the Condemnation Deposits Fund are accrued for interest earnings as of June 30.

Journal Entry for General Ledger Account:
Debit:
1410.0681 Due from Surplus Money Investment Fund
1410.0910 Due from Condemnation Deposits Fund
Credit:
8000 Revenue

Source:
The SCO's View Direct on-line system allows agencies to view the interest earned as of June 30 and tranferred in July.
Document—Controller's Notice of Transfer issued in July.

Explanation:
The quarterly transfer of interest earned on money in the Surplus Money Investment Fund and the Condemnation Deposits Fund must be recorded as an accrual as of June 30.