College Accounting (Book Only): A ...
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College Accounting (Book Only): A ...
When would revenue and expenses be recorded if a business used the cash basis of accounting? If a business used the accrual basis of accounting?
Mention the way revenue and expenses would be recorded under cash basis accounting and accrual basis accounting.
Cash basis accounting: The method of accounting which recognizes revenues when they are received, and recognizes expenses when they are paid, is referred to as cash basis accounting.
Recording revenue and expenses: Under cash basis accounting, revenue is recorded when it is received, and expenses are recorded when it is paid...
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