JOURNAL ENTRIES FOR INCOME RECEIVED IN ADVANCE

Income received in Advance or pre-received incomes: These Incomes received during a trading period, even though they have not been earned.


Receipt of advance from Income
Date Particulars LF Dr. Rs. Cr. Rs.

Incomes A/c … Dr.
To Advance Income A/c



Transfer of Advance Income from Income A/c
Date Particulars LF Dr. Rs. Cr. Rs.

Advance Income A/c … Dr.
To Income A/c

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