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Question 1: Which entries are to be treated as accrued income or accrued expenses and why?
1. Whitewash and painting done. Bill was submitted for Rs 10000 & 15000/-. Bill of Rs 10000 was paid during the month of March but bill of Rs 15000/- dated 31.03.17 was paid on 23.04.2017
2. Intereston term Loan for the month ended 31.03.17 for Rs 4000 was paid in April 17
3. Payment of electricity bill not paid for the month of March 17 due on 28.03.17 till 31.03.17
4. Interest on Securities due on 31.03.2017 has not been received till 31.03.17
5. Rent due for the month of March has not been paid till 31.03.2017
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