what is accured income ??????
Answers
Answer:
Accrued income is income which has been earned but not yet received.Income must be recorded in the accounting period in which it is earned. Therefore, accrued income must be recognized in the accounting period in which it arises rather than in the subsequent period in which it will be received.
Accrued income refers to amounts that have been earned, but the amounts have not yet been received. Accrued interest income that is to be reported on the income statement. Accrued interest receivable that is to be reported on the balance sheet.
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