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A

Accrued Revenue

Definition

Revenue you've earned but haven't collected yet and haven't recorded. Example: you finished a consulting project Friday, but the client won't pay until next month. You've earned the revenue; you just don't have the cash yet.

Related Terms

Adjusting Entries

Journal entries made at the end of an accounting period to update accounts before preparing financial statements. These ensure revenues are recorded when earned and expenses when incurred. Common examples: accrued wages, prepaid insurance expiring, depreciation.

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