Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivable is the term that refers to both trade receivable and non trade receivable . By Mr safiullah Zarif
income receivable
Trade receivables arising in normal course of business but other receivable is not.
If dividend income received: Debit Cash / bank Credit Dividend income If dividend income receivable: Debit Dividend income receivable Credit Dividend income
[Debit] Interest Receivable [Credit] Interest Income
No. It is either cash (if received) or a receivable. It is not income.
Account receivable are usually currant assets that arise from selling merchandise or providing services to customer on credit . Accounts receivable are also known as trade receivable . receivable is the term that refers to both trade receivable and non trade receivable . By Mr safiullah Zarif
income receivable
Trade receivables arising in normal course of business but other receivable is not.
When you accrue income, the debit is to a receivable account such as Accounts Receivable and the credit goes to the appropriate income account, such as Sales.
If dividend income received: Debit Cash / bank Credit Dividend income If dividend income receivable: Debit Dividend income receivable Credit Dividend income
[Debit] Interest Receivable [Credit] Interest Income
[Debit] Accrued income receivable [Credit] Accrued income
Accounts receivable is not reflected in the income statement but the balance sheet. Sales, both cash and credit is.
[Debit] Accrued income receivable [Credit] Accrued income
[Debit] Accrued income receivable [Credit] Accrued income
Before tax income is gross income less allowable deductions and rebates = assessable income. After tax income is assessable income less the applicable income tax