are accounts payable revenues
If the amount received is a payment from a customer for a sale or service delivered earlier and has already been recorded as revenue, the account to be credited is Accounts Receivable. Accrued revenues are revenues that are earned in one accounting period, but cash is not received until another accounting period. Accrued expenses are expenses that have been incurred in one accounting period but won't be paid until another accounting period. However, businesses that practice accrual-based accounting include payments for services rendered in their revenue as soon as the service is complete. As a result, a business practicing accrual-based accounting typically adds the balance of accounts receivable to its total revenue when preparing its balance sheet. Accrued revenues are revenues earned in one accounting period but not received until another. The most common forms of accrued revenues recorded on financial statements are interest revenue and accounts receivable. In fact, if some customers don't pay their bills, the balance sheet reflects income that the company may never earn. On the other hand, companies that don't include accounts receivable on their balance sheets sometimes underestimate the actual amount of revenue they earn during an accounting period. Salaries payable are wages earned by employees in one accounting period but not paid until another accounting period. Interest payable is interest expense that has accumulated but not yet been paid. The two most common forms of accrued revenues are interest revenue and accounts receivable. The account title for the money that Direct Delivery has a right to receive for having provided the service is Accounts Receivable (an asset account). Again, reporting revenues when they are earned results from the basic accounting principle known as the revenue recognition principle. Two important parts of this method of accounting are accrued expenses and accrued revenues. Accrued expenses are expenses that are incurred in one accounting period but won't be paid until another. Primary examples of accrued expenses are salaries payable and interest payable. Accounts Receivable & Revenue. A business's balance sheet depicts the assets the business owns, the revenue it has received and the profit it has earned. One of the assets businesses commonly report on their balance sheets is accounts receivable. While some businesses consider accounts receivable to be a form of revenue, others do not. If the amount reduces a company's obligations, the account to be debited will be a liability account. (Examples include Accounts Payable, Notes Payable, Wages Payable, and Interest Payable .). When a company receives cash, the company will debit Cash and will have to credit another account.
Yes