What is The Difference Between Rent Received And Rent Receivable
Re nt received is t h e amount of revenue or income earned b y th e owner or landlord against t h e services rendered to tenant during t h e accounting period. It is recorded in Income Statement as it is a temporary account w hich has life equal to or less tha n one year. Rent Receivab le is a Curre nt Asset as it is a receivab le from te nant for t he facilities re ndered to him b ut still the payme nt is not received from tenant b y la ndlord during t he accou nting period. It is s how n on b ala nce s heet as it is a perma nent asset.