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Answer Posted / r k jain
In AR perspective -
Accounting method would be ACCRUAL if you want your billing
system to record revenue from invoices, debit memos, and
chargebacks. When you use this method, Receivables debits
your cash account and credits your receivables account upon
payment of a debit item.
Accounting method would be CASH BASIS if you want to
recognize revenue at the time you receive payment for an
invoice, debit memo, or chargeback. Receivables debits cash
and credits revenue when using the Cash Basis method.
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