General Accounting Question:

What do you mean by cash basis and accruals basis account?

Cash basis is the method of recording accounting transaction for revenue and expenses only when corresponding cash is received & payment are made.

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Mrb sold 100000 good to mr.b + vat 12.5% where mr.b 50% goods return? and mr a had give 10% incentives to their employee?	Suppose we given tour advance to party how to treat entry and which head have to given expenditure?