Journal Entry for Accrued Income or Income Due

An income that has been earned but not yet received in the current financial year is called Accrued Income. It is recorded with an adjusting entry to recognize the income earned during the accounting period. Accrued Income Journal Entry is recorded by debiting the Accrued Income A/c and crediting that particular income.

Accrued Income Journal Entry

 

Example 1: Commission earned but not yet received 1,000.

Solution:

 

Example 2: Dividend 2,000 has not been received yet.

Solution: