Question

Rent of current year due but notreceived 30000​

Answer 1

Answer:

Journal Entry for Accrued Income

It is income earned during a particular accounting period but not received until the end of that period. It is treated as an asset for the business. Journal entry for accrued income recognizes the accounting rule of “Debit the increase in assets” (modern rules of accounting).

Examples of accrued income – Interest on investment earned but not received, rent earned but not collected, commission due but not received, etc.

Answer 2

Answer:

by rent outstanding a/c dr 30000

to rent a/c 30000