Accounting for Beginners | Part 4 | Accruals & Prepayments

In part 4 of Accounting for Beginners, we look at Accruals and Prepayments. We explain what accruals and prepayments are, whether they are assets or liabilities, and how they are treated in accounting. We also go through journal entry examples of accruals and prepayments. We do the general ledger for prepaid expense, income received in advance (deferred income), accrued expense, and accrued income.

Income Received In Advance (Prepaid Income) | Explained with Journal Entries Examples

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[Tina_fitnesss]

Hey
In the 1st example why did we use R1800 instead of R10000