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Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?
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Are advanced receipts from customers treated as revenue at the time of receipt? Why or why not?

User Conqueror
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3 votes

Answer:

No

Step-by-step explanation:

The receipt received from customer is view as expense and expense is not a revenue.

The receipt can be issue after purchase or return of good. so in this particular case its not a revenue. Thank you

User DjezzzL
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