Page 157 - FR Integrated Workbook 2018-19
P. 157
Revenue
Example 1 cont.
$
1 January 20X2 b/f 826,446
20X2 Finance income @10% 82,645
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31 December 20X2 Receivable balance 909,091
20X3 Finance income @10% 90,909
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31 December 20X3 Receivable balance 1,000,000
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On 31 December 20X3 the balance will be received (debit bank, credit
receivable), clearing the outstanding balance.
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