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The double entry in the lecture video is
Dr Receivable 2000
Cr Group Retained Earnings 2000But the 2000 amount is after deducting depreciation.
So how can this non cash expense be a part of the receivable? Shouldn’t the receivable be 2600? making the entry as follows:
Dr Receivable 2600
Cr Retained Earnings 2000
Cr Asset 600Could you please advise
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