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Adjustments for accrued fees of $5,000 have been earned but have not been billed to the client, how is this transaction recorded?

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15y ago

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Journal entry for accrued income?

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What is the journal entry for accrued income?

Accrued income is income earned but not yet received. The journal is as follow For example: at fisical year end 31/dec/2007 our company from project X has accomplished 70% of the work, where it only invoiced 40%. there fore we say the uninvoiced 30% is accrued income as Accrued income Dr. 30% Sales Cr. 30% Once the company invoices the remaining 30% (no cash recived yet) Accounts recivable Dr. Accrued income Cr. Once cash recived Cash Dr. Accounts recivable Cr.


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