Outstanding income a/c CR to Customer a/c Dr
what is outstand income
Accrued Income is income that is earned by provided a service or the sale of a product but hasn't been received yet. Outstanding income is income that is yet to be earned.
outstanding rent
[Debit] Outstanding expenses [Credit] Cash / bank
Outstanding income a/c CR to Customer a/c Dr
Debit outstanding expensesCredit expenses payable
what is outstand income
Accrued Income is income that is earned by provided a service or the sale of a product but hasn't been received yet. Outstanding income is income that is yet to be earned.
outstanding rent
[Debit] Outstanding expenses [Credit] Cash / bank
outstanding salaries a/c....................dr to outstanding expenses
debit rent expensecredit rent payable
Outstanding expenses are those which are yet to be paid in current financial year. Journal entry would be Expenses a/c dr to Outstanding expenses a/c Outstanding expenses should be crecdited because its a liability for the company.
outstanding rent account dabit to Mr ashwin
There are two sides to the entry, upon cash receipt you debit cash, credit deferred income. To apply the deferred income, the entry is debit deferred income and credit revenue.
[Debit] Accrued income receivable [Credit] Accrued income