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what do you mean by accrual & due ? What is the difference
between Accrual & due?
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Answer Posted / kuldeepkumar
As per Accrual concept of accounting revenue has been
earned by firm, whether is received or not & expenses has
been incurred by firm, whether is paid or not.
As a Creditor, Due is that amount which we have to receive
from debtor & As a Debtor, Due is that amount which we have
to pay to Creditor.
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