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The accruals account (nominal 2109) includes £1,000 "client's deposit held".
On the bank statement there is a bank payment of £400 which is - Bond repayment (£1,000 bond less the £600 rent owed).
Is it correct to:
Journal entry 1: DR.ACCRUALS(£400) & CR.BANK(£400)
Journal entry 2: DR.ACCRUALS(£600) & CR.RENTAL INCOME(£600)
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