contract

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July 28, 2017 at 1:46 pm #399166
adarsh1997
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Hi Mike!

I have some difficulties understanding the explanations of w2 and w3 in your lectures concerning contracts.

What these two figures (w2 & w3) are?
What do they represent?

Thanks.
July 28, 2017 at 2:27 pm #399175
MikeLittle
Keymaster
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Balances due from (or to) customers

The first is in the nature of unbilled work-in-progress whereas the second is a straight forward balance from a receivable

But that’s all explained in the lecture!
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