[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)
Debit accrued expensesCredit expenses payable
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.
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.