Prior To The Adjusting Process, Accrued Revenues Have Been
Prior to the adjusti ng process, Accrued Revenues have been earned but not recorded as revenues as these are ear ned b y the b usi ness b y deliveri ng goods to customers or rendered services to clients or customers but still t hese are not recorded in relevant ledger’s accounts. For example, Accrued Rent is an income receivab le for the compa ny as t he compa ny provided rent facilities to tenant during t he accou nting period b ut the payme nt is still not received from tenant against suc h facilities. The accrued reve nue adjusting entry is recorded at t he e nd of t he accou nting period as s how n b elow: Accrued Re venue a/c XXX ...