Question

amount realised vs amount received in accountancy​

Answer 1

Amount realized is the amount received from the sale of an asset or financial instrument. ... Amount realized is different from amount recognized which is defined as taxable income received or a deductible loss.

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Answer 2

Answer:

Amount realized is the total amount received from a sale transaction. It factors in cash, the fair market value (FMV) of any assets, existing liabilities, as well as sales expenses.

If the amount received is a payment from a customer for a sale or service delivered earlier and has already been recorded as revenue, the account to be credited is Accounts Receivable.

If the amount received is the proceeds from the company signing a promissory note, the account to be credited is Notes Payable.