Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and finance from DePaul University. The balance sheet ... lines of credit at low ...

Accounts receivable is the income derived from credit accounts. For the balance sheet, it's the total amount of income to be received that's logged into the books at the close of the fiscal year.

Accumulated depreciation is recorded in a contra account as a credit, reducing the ... The amount appears on the balance sheet and offsets fixed assets As a debit. The amount appears on the ...

Reviewed by David Kindness Fact checked by Vikki Velasquez An accrual has occurred but has not yet been paid for. This can ...