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Dear Sirs,
With reference to Example 1 under the Employment Benefits lecture, the $6m benefits paid out is deducted from the Pension Asset as well as the Pension Liability. I was wondering how the double entry works with this $6m, as there is no mentioning of this $6m as a cash outflow in the lecture?
CR Asset – $6m
DR Liability – $6m
CR Cash – $6m??Thanks and Regards,
Tim
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