[Debit] Accrued income receivable [Credit] Accrued income
debit interest receivablecredit interest income
Accrued income To Income (Being Brokerage due but not received)
(debit) interest income (credit) (debit) interest income (credit)
Debit accrued expensesCredit expenses payable
[Debit] Accrued income receivable [Credit] Accrued income
[Debit] Accrued interest income [Credit] Notes payable
Debit interest receivableCredit interest income
debit interest receivablecredit interest income
debit commission receivablecredit commission income
[Debit] Accrued income receivable [Credit] Accrued income
debit interest receivablecredit interest income
Accrued income To Income (Being Brokerage due but not received)
(debit) interest income (credit) (debit) interest income (credit)
Accrued Revenue is a term that I rarely see, though it is an Asset and should be treated as such. Accrued Revenue would be treated similar to an Account Receivable. The Journal Entry would be a Debit to Accrued Revenue and a Credit to Revenue.
Debit accrued expensesCredit expenses payable
Accrued income is income earned but not yet received. The journal is as follow For example: at fisical year end 31/dec/2007 our company from project X has accomplished 70% of the work, where it only invoiced 40%. there fore we say the uninvoiced 30% is accrued income as Accrued income Dr. 30% Sales Cr. 30% Once the company invoices the remaining 30% (no cash recived yet) Accounts recivable Dr. Accrued income Cr. Once cash recived Cash Dr. Accounts recivable Cr.