Type of Ledger Adjustments |
Debit |
Credit |
Shown in Balance Sheet As |
Accruals or Accrued Expenses |
Expenses Account |
Accrued Expenses account |
Current Liability |
Prepayment or Prepaid Expenses |
Prepaid Expenses Account |
Expenses Account |
Current Asset |
Accrued Revenue |
Accrued Revenue Account |
Revenue Account |
Current Asset |
Revenue Received in Advance |
Revenue Account |
Revenue Received in Advance Account |
Current Liability |