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Traditionally deposits are a formal compliance to a contract. The contract states at what point in the performance aspect of the agreement triggers the release of the deposit to the revenue section of the income statement.

Current Liabilities Section of the Balance Sheet


The current liabilities section of the balance sheet identifies those amounts due to third parties within the current year.  These include accounts payable, credit card accounts, accrued payroll, taxes, unearned revenue, deposits and those amounts [...]