If you are the seller and recieve an advance payment from a customer, it means you are owing the customer and as much a creditor. Your cash is debited and the customer ( Customer's deposit account) credited;
Yes, if a company would get advances from customers and invests in short term bank instruments it would effect ROCE.
They helped resource suppliers and customers interact faster.
For sure, technological advances have helped real estate agencies to get closer to their customers. Just think about the advantages provided by the Internet: now customers can have a look at the properties for sale and, in case they are interested, they can contact the agency with a few clicks and ask for more information.
what is the primary purpose of accounting
Because it's quantifiable and reproducible.
Internet is faster so the customers don't have to wait as long for everything to load.
There are a number of credit card companies that offer cash advances to customers. One can get them from Citi credit cards, Commonwealth Bank Credit card and the HSBC Credit Card.
The world does not shrink but advances in communication technology make it appear so.
they are recorded in a general journal.
TCNJ
Ideally, there would be no fees for cash advances and the same interest rate for all charges, both purchases and cash advances. (Some cards offer both of these features.)
Prepaid Income is considered current liability as it represents the advances received from customers on account of work to be performed.