10466 ACCOUNT NO. 8000 - REVENUE
(Revised 5/95)
Normal Balance: Credit
Purpose: This account shows the amount of revenue accounted as applicable to the current fiscal year. At year-end, it includes the amount of revenue collected and/or accrued for it by other funds not yet received from such funds. It does not include revenues collected in advance of subsequent fiscal years or revenues collected for other funds.
Subsidiaries: Revenue Ledger
Normal Entries:
| Entry No. |
Debits |
Entry No. |
Credits |
3. Claims for refunds of revenue are scheduled for payment.
9. Accounts receivable are written off.
11. (Alternate entry for dishonored checks.)
A-10. Adjustment is made for checks still dishonored as of June 30, by agencies that do not adjust their revenue accounts for each dishonored check transaction during the fiscal year.
A-11. Adjustment is made for cash shortages outstanding June 30.
C-1. Final June 30 account balance is closed to Account No. 5530 or 5570. |
7. Cash is received and applied to billed and/or unbilled revenues of the current fiscal year.
8. Cash is applied to billed and/or unbilled revenues of the current fiscal year.
25. Revenue collected in advance in the prior fiscal year are accounted as revenue of the current fiscal year at July 1.
32. Interest is received from the Surplus Money Investment Fund or Condemnation Deposits Fund.
34. Investment securities mature or are sold.
35. Interest is received on investment securities.
36. Cash is received and applied from the sale of accounts receivable-revenue.
A-5. Interest earnings on investments are accrued at June 30.
A-9. Amounts earned as of June 30 but not received are accrued.
Entry No. A-11 is reversed as of July 1. |
