Hindi, asked by sharwin9980, 5 months ago

Payment made in advane is shown on wich side of balence shieet

Answers

Answered by Anonymous

Answer:

Advance payments are recorded as assets on a company's balance sheet. As these are expensed, they are recorded on the income statement for the period incurred. Yes, income received in advance is recorded in the balance sheet. It is recorded on the liability side of the balance sheet.

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