Deferred Income

This topic has 5 replies, 2 voices, and was last updated 4 years ago by John Moffat.

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October 22, 2021 at 5:44 pm #638818
James124
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Tutor, why deffered income is written as debit balance as it is income?
October 23, 2021 at 10:19 am #638870
John Moffat
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Because it is money owing to us.
October 23, 2021 at 10:25 am #638877
James124
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Is it accrued Income?
October 23, 2021 at 10:30 am #638881
John Moffat
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Effectively it is.
October 23, 2021 at 11:12 am #638884
James124
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Thank you tutor.
October 23, 2021 at 4:41 pm #638915
John Moffat
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You are welcome.
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