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How to record on transaction worksheet

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Reference no: EM132421996

CLC earned $500,000 in childcare fees, 80% of which was collected during the year. The remaining 20% will be collected in FY 2018. [Use "Childcare Fees" as the line item in the financial statements.] In addition, CLC collected $85,000 of the outstanding childcare fees they had earned in previous fiscal years and wrote the remainder off as bad debt.

How to record on transaction worksheet?

Reference no: EM132421996

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