Collected cash not recorded as revenue (2024)

Moumita

A company collects cash from the customer apart from revenue in the following cases:
1. A cash loan is forwarded to the company
2. Advance for a sale is made to the company (revenue is recorded as an advance not as sale)
3. When a donation or funds are offered by the govt or others for specific purposes
4. When there is a cash purchase return by the company

Aug 23 2019 11:53 PM

Collected cash not recorded as revenue (2024)
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