Customer Deposits

Solution Customer Deposits represents money the company received in advance of providing a service or product to a customer. Customer Deposits is classified as a current liability on the balance sheet. It is classified as a liability because the company still owes the service or product to the customer. An example would be taking a deposit on a job before the job is started, or a Lay away Deposit.

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Article ID:	293
Category:	Ledger
Date added:	2010-11-23 10:11:27
Views:	825
Rating (Votes):	(39)

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