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Lecture 12

BUSI 1004 Lecture 12: Lecture 12 ICP
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2 Pages
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Fall 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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Description
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 , 5 R / A 350,000 , 5 s e l a S 350,000 , 4 h s a C 980,000 , 4R / A 980,000 AFDA 35,000 , 5 3R / A 000 Bad Debt Expense 68,165 , 8 6 A D F A 165 How BDE was calculated: AFDA 35,000 0 (opening (written off) balance) BDE = 35,000 + 33,165 = 68,165 33,165 (2,925 + 6,240 +
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