Question

What is difference between received in advance and earned but not received​

Answer 1

Answer:

Accrued Income is the income which is earned but not yet received. 'Income received in advance', as the name suggests, are the earned revenue which is to be earned in the future in an accounting period but is already received in the current accounting period

Answer 2

Explanation:

Accrued Income is the income which is earned but not yet received. 'Income received in advance', as the name suggests, are the earned revenue which is to be earned in the future in an accounting period but is already received in the current accounting period.