Meaning of Cash Accounting System -Cash accounting is an accounting method where payment receipts are recorded during the period in which they are received, and expenses are recorded in the period in which they are actually paid.
As per the Cash Basis accounting the amount of revenue that would be recorded by the Rings the Bells, Inc. for the month of April 2018 detailed below-:
Meaning of Accrual Accounting System-Accrual basis of accounting is a system of recognizing revenues and expenses when they are incurred instead of focusing on when they are paid or collected
As per the Accrual Basis of accounting the amount of revenue that would be recorded by the Rings the Bells, Inc. For the month of April 2018 detailed below-:
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