Where is accrued income reported in the balance sheet?
Accrued income is reported as a current asset such as accrued receivables, accrued revenues, or part of accounts receivable.
The amount of the accrued income will also increase the corporation’s retained earnings. This occurs because the accrual adjusting entry included a credit to a revenue account—thereby increasing the corporation’s net income.
Learn more about Adjustin Entries.
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