Accrued revenue: Accrued revenue refers to the revenues that are generated from goods delivered or service performed to the customer, but cash is not yet received from the customer. Adjusting entries : Adjusting entries refers to the entries that are made at the end of an accounting period in accordance with revenue recognition principle, and expenses recognition principle. The purpose of adjusting entries is to adjust the revenue, and the expenses during the period in which they are actually occurred. To identify: The types of accounts involved in the adjusting entry, and indicate the account to be debited, and the account to be credited.

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Chapter 4, Problem 15Q

To determine

Accrued revenue:

Accrued revenue refers to the revenues that are generated from goods delivered or service performed to the customer, but cash is not yet received from the customer.

Adjusting entries:

Adjusting entries refers to the entries that are made at the end of an accounting period in accordance with revenue recognition principle, and expenses recognition principle. The purpose of adjusting entries is to adjust the revenue, and the expenses during the period in which they are actually occurred.

To identify: The types of accounts involved in the adjusting entry, and indicate the account to be debited, and the account to be credited.

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