JOURNAL ENTRIES FOR OUTSTANDING INCOME

Outstanding Income: Outstanding Incomes are incomes earned during the specific period, but not actually received during that period.


Income due for the period
Date Particulars LF Dr. Rs Cr. Rs.

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



When outstanding Income actual received
Date Particulars LF Dr. Rs. Cr. Rs.

Cash / Bank A/c … Dr.
To Outstanding Income A/c.

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