BOOKKEEPING 2 - REVIEW

IN CASH BASIS, YOU RECORD INCOME WHEN YOU RECEIVE IT.

• EYY

• SHEESH

IN CASH BASIS, YOU RECORD EXPENSE WHEN YOU INCUR IT.

• EYY

• SHEESH

IN ACCRUAL BASIS, YOU RECORD INCOME WHEN YOU PAY IT.

• EYY

• SHEESH

IN ACCRUAL BASIS, YOU RECORD INCOME WHEN YOU EARN IT.

• EYY

• SHEESH

IN RECORDING AN ACCRUED INCOME, YOU DEBIT RECEIVABLES.

• EYY

• SHEESH