USA Cash receipt journal


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Is advance cash payments from customers and unearned revenue recorded in cash receipts journal?
 
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Dec 19, 2020
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United States
Yes - but they are properly posted to a liability account, not an income account.
Not every receipt of cash is considered income automatically.
 
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Cas reciept in Advance will always be considered as an "Advance" which will appear in Balance Sheet. Unless Goods/Service are not discharged revenue will not arise.
 

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