Posted On: 11/26/2014 10:01:06 PM
Post# of 9964
No problem man having a master's in accounting has its ups lol. But yeah those receivables MUST HAVE associated revenues from this period + prior periods. You book revenue even if you don't receive cash. If you're entitled to payment but haven't received the cash you still book revenue via the accrual method (debit AR credit revenue).That definitely needs to be addressed.
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