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Arrears

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Querist : Anonymous (Querist)
13 September 2012 what is ARREARS and what are entry in accounting books.
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Pankaj Gupta

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Pankaj Gupta (Expert)
13 September 2012 When any income our expense is increased our decreased with retrospective effect then such income or expense relating to past year its called arrears. Eg arrears of rent paid, arrears of salary received, etc.

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