Monday
Reminder set
7am
Tuesday
Reminder set
7am
Wednesday
Reminder set
7am
Thursday
Reminder set
7am
Friday
Reminder set
7am
Saturday
Reminder set
7am
Sunday
Reminder set
7am
XSIQ
*
Accounting - Accrued revenue
Accrued revenue
Revenue may be owing (accrued).
In this example, rent of $2000 has been received with $400 owing. The
accrued revenue is a current asset.
DATE
ACCOUNTS
DEBIT
CREDIT
31 Mar.
Accrued rent revenue
400
Rent revenue
400
Rent revenue owing
31 Mar.
Rent revenue
2 400
Profit and Loss a/c
2 400
Rent revenue posted to Profit and Loss a/c
1 Apr.
Rent revenue
400
Accrued rent revenue
400
Reversing entry
31 Mar.
Bank
2 000
31 Mar.
Profit and Loss a/c
2 400
Accrued rent revenue
400
2 400
2 400
1 Apr.
Accrued rent revenue
400
31 Mar.
Accrued rent revenue
400
1 Apr.
Accrued rent revenue
400
31 Mar.
Rent revenue
2 400
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