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hello sir.
i did not understand the accrued income in the SOFPSOFP (extract)
20X1 20X2 20X3 20X4
$ $ $ $
Accrued income 1,500 1,000 500 –we said double entry from year 2-4 will be:
$ $
Dr: bank 2,000
Cr: accrued income 500
Cr:rental income 1,500then why does the accrued income keep decreasing by $500?
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