Question

what is accured income? and in p/l A/c where it goes​

Answer 1

Thanks for asking

Answer :

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Accrued Income means income receivable in future.

Thus, it is a INDIRECT INCOME OF BUSINESS FIRM

So, it will be recorded in DEBIT SIDE OF PROFIT & LOSS A/C

For Info :

ACCRUED INCOME is an Asset of a business, thus it can be written in ASSET SIDE OF BALANCE SHEET as a INCOME RECEIVABLE.

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Maybe it helps you..!

( if u have any queries, mention in comment ).

Answer 2

Answer:

ACCURED INCOME

WHEM AN INCOME IS EARNED BUT HAVEN'T RECEIVED IS KNOW AS ACCURED INCOME.

IN P/L ACCOUNT IS IT PLACED ON THE CREDIT SIDE

FOR ANY FURTHER DOUBT. CAN ASK ME..

#I HOPE THIS HELPS YOU