Car Rental Accounting treatment
Posted: 08 Jul 2021, 15:04
Dears,
If I have a car rental contract falls between two months E.g. starts on 25-06-2021 to 07-07-2021. Do I need to record the revenue for the first 5 days (from 25 to 30 -06-2021) or I need to recognize the revenue in July as the contract will be closed in July.
If I have a car rental contract falls between two months E.g. starts on 25-06-2021 to 07-07-2021. Do I need to record the revenue for the first 5 days (from 25 to 30 -06-2021) or I need to recognize the revenue in July as the contract will be closed in July.