Accountancy, asked by sujalmahajan79paz6pd, 10 months ago

Commission received in advance Rs. 500 and interest accrued Rs. 1,000

Answers

Answered by dasgitanjali007

Answer:

Commission received in advance is unearned income. Unearned income is defined as income not due but recieved. Till the time, it accrue, this will be shown as liability in the balance sheet.

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