Accrued To

Question 1

Lategan

Answer 1

Even if an amount is payable in the future, the amount accrues to the taxpayer when the taxpayer becomes entitled to the amount. Once delivery has taken place, the seller becomes entitled to the full sale price.

Question 2

People’s stores

Answer 2

Accrued to = entitled to
Included in gross income when entitled to not when you receive the money.
Accrual = face value not discounted value
Taxed on the earlier of receipt or accrual