Accrued Revenues

Revenues earned in a period that are both unrecorded and not yet received in cash (or other asset); adjusting entries for recording accrued revenues involve increasing (debiting assets and increasing (crediting) revenues. E.g. assume a company has not received $5,000 of its consulting receivable from its customer yet although the service has been performed. The accrued revenue entry at the end of January 31st would be:

Dr. Accounts Receivable $5,000
Cr. Consulting Revenue $5,000

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