Accountancy, asked by Surilavan, 7 months ago

Which of the following is the correct entry for Advance Payments made to Creditors

Answers

Answered by ankitha50

5

Answer:

don't know..............

Answered by devedrayadav7878

0

Answer:

If they will be earned within one year, they should be listed as a current liability. When a company receives money in advance of earning it, the accounting entry is a debit to the asset Cash for the amount received and a credit to the liability account such as Customer Advances or Unearned Revenues.

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