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Business & farm
I don't entirely understand cash-basis balance sheets at all I guess. All the accounting books I've looked at to try to figure this out only give accrual examples for some reason. But if I put the amount in our checking account under "cash" in Assets, but don't put the amount owed on loans in liabilities, it looks like that money belongs to us instead of being borrowed money - is this really correct for cash-basis?
‎June 3, 2019
11:53 AM