0
income recived a/c dr
to unearned income
Wiki User
∙ 11y ago
Wiki User
∙ 9y agodebit cash / bank
credit unearned income
Add your answer:
Earn +20 pts
Journal entry for income received in advance?
Debit customer depositsCredit unearned revenue
Journal entry for rent received in advance?
Cash A/C Dr To Rent Received in Advance A/C
Cash received in advance what is journal entry?
income received in advanceincome a/c drTo income received in advance A/Cso i think herecash ac drto cash received in advance i am not sure better check with some expertsincome received in adv is a liability and shown on liabilityu side in balance sheet.
What is the journal entry if i received 10000 as a interest income and 10 percent percent advance income tax paid?
debit cash 9000debit tax 1000credit interest income 10000
What is the journal entry for prepaid income?
The journal entry for prepaid income is a debit to the Cash account and a credit to the Unearned Revenue account. The Unearned Revenue account is a liability. The rationale for such an entry is that this is income received in advance. This means that the income has not been earned since the services have not yet been performed. When the services have been performed it is appropriate to recognize the revenue and offset the liability account, unearned revenue.
What is the journal entry of payment received in advance?
Debit advance cash receivedCredit unearned revenue
How do you pass journal entry of income for which contract has made income will be received in future in installments basis?
Income will only be recorded when it will received an no entry on contract.Entry at time of received:[Debit] cash / bank[credit] income
What is the journal entry for advance received from X in the form of cheque?
Bank a/c DrTo Advance from the party A/c
Commission received what is journal entry?
Journal entry:[Dr.]Bank account xxxx[Dr.]Cash account xxxxx[Cr.]Commission Received xxxxCommission received is credited because it is our income and incomes are credited.
What is journal entry tp make order?
There is no entry required when order is placed instead of entry is made when goods received or payment made in advance.
What is the journal entry for interest received on a state tax refund?
Debit cashCredit interest income
What is the journal entry for indemnity payment received?
debit cash / bankcredit indemnity income etc
