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- General Ledger Account Definitions
- Liabilities & Fund Equity
- 24xxxx: Deferred Credits
24xxxx: Deferred Credits
Deferred credits represent revenue received by Duke University that has not yet been earned. When the revenue is earned, it will be moved from a deferred credit G/L account to a revenue G/L account.
II. G/L ACCOUNT DEFINITIONS
To split 242200. Will allow for grouping of types of transactions and facilitate reconciliation.
To record expenses related to the sale of rights and permissions that will be payable to our agents.
Represents the accrual of purchases received by the retail stores for which an invoice has not yet been received and recorded by Procurement Services.