Unearned income
Querist : Anonymous
1 are we need to distribute this 1000 in five years as income?
2 Or we consider this 1000 as one time income?
In cash system, you need to account for the income as it is received.
In mercantile system, you need to account for the same over the period of 5 years.
Querist : Anonymous
Every month an amount will added for nxt five years.
and even if computers were not there, when the job is to be done as per the accounting system, no matter how lengthy it is.
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