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Lecture 12

BUSI 1004 Lecture 12: Lecture 12 ICPPremium

2 pages52 viewsFall 2016

Department
Business
Course Code
BUSI 1004
Professor
Shannon Butler
Lecture
12

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BUSI 1004 – Lecture 12 – Revenue and Accounts Receivable
An increase in Fair Value = an increase in gain
Debit FV, Credit gain
ICP 5-2
2016
A/R 5,350,000
Sales 5,350,000
Cash 4,980,000
A/R 4,980,000
AFDA 35,000
A/R 35,000
Bad Debt Expense 68,165
AFDA 68,165
How BDE was calculated:
AFDA
35,000
(written off)
0 (opening
balance)
BDE =
35,000 +
33,165 =
68,165
33,165
(2,925 +
6,240 +
11,250 +
12,750)
2017
A/R 6,000,000
Sales 6,000,000
Cash 5,780,000
A/R 5,780,000
AFDA 58,000
A/R 58,000
A/R 15,000
AFDA 15,000
Cash 15,000
A/R 15,000
BDE 96,515
AFDA 96,515
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