The relevant cost is the addition of the loading and unloading charge of goods when it’s consigned or sold to the opposite party in a business. This, in actuality, is not the cost of charges of fuel and transport in business. It happens when the company opt-out of other activities that can save it from […]
So the debit to accrued revenue increases current assets (as it does in the above two scenarios), while the credit does the same thing as before with increasing revenue. The key point behind the above journal is that this should be posted to recognise the rent expense, when the rent invoice has not been received. […]
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