Describe the types of entries required in later periods that result from accruals.

Accrued revenues recorded in one period result in recording cash received in a later period.At the time of an accrual of revenue,a receivable account is debited.When cash for accrued revenues is received,a journal entry must be made to recognize the cash receipt and reduce the receivable.Accrued expenses recorded in one period result in recording cash payments made in later periods.At the time of an accrual of an expense,a payable account is credited.When the cash for these expenses is paid,a journal entry must be made to recognize the cash payment and reduce the payable.