Write Off Accrual Income Journal Entry
Write Off Accrued I ncome or Accrued Revenue entry is recorded in order to cancel t he effect of previously adjusti ng entry recorded for it. There are two methods to write off accrued i ncome and b oth gives the equal results: 1. By Recordi ng Reversing Entries 2. By Recordi ng Write Off Journal Entry 1. Whe n we record adjusting entry for accrued income or income receivable, then we record the following entry as shown below: Accrued I ncome a/c XXX Income a/c XXX ...