The sum of money owed by an employee to a business for future services rendered is known as the advance to workers. Since advances to employees have not yet been incurred, they are not shown as expenses on the income statement. When an employee provides services for which they have been paid in advance, the …
- February 29, 2024
- Bookkeeping
- Comments Off on Cash Receipts and Cash Payments Journal: Definition, Rules, and Format Notes with PDF Cash Book
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