Hello Mofat Sir,
How the Prepaid and accrued income entries are done? as i haven't find it in the lectures ( examples are only for expenses) but its in the exam kit questions.
Thank you.
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ACCRUALS AND PREPAYMENTS
8y ago#1The entries are exactly the same as for expenses, only in reverse.
You will certainly find some examples with income in your exam kit (although the chances of getting more than 1 or 2 in the real exam are remote).
However, best is for you to type out one of the questions, and I will reply to you by explaining how to answer it (and why) :-)
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