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4 n-count An advance is money which is lent or paid to someone before they would normally receive it. She was paid a £100,000 advance for her next two novels. 5 verb To advance an event, or the time or date of an event, means to bring it forward to an earlier time or ;· An advance is money which is lent or paid to someone before they would normally receive it. She was paid a £100,000 advance for her next two novels. Synonyms: down payment, credit, fee, deposit More Synonyms of advanceJournal Entry for Income Received in Advance. Also known as unearned income, it is income which is received in advance, however, the related benefits are yet to be belongs to a future accounting period and is still to be earned. Journal entry for income received in advance recognizes the accounting rule of “Credit the increase in liability”.9/29/2020 · Advance payment is a type of payment made ahead of its normal schedule such as paying for a good or s

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