10-29-2010, 02:36 PM
Dear,
What I understand the school is using accrual basis of accounting, so they want first entry being Course Fee receivable debit and course fee income credit at the time of accrual, and at the time of cash receipt, Cash debit and course fee receivable credit.
What I understand the school is using accrual basis of accounting, so they want first entry being Course Fee receivable debit and course fee income credit at the time of accrual, and at the time of cash receipt, Cash debit and course fee receivable credit.
