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Almost assuredly it's a liability on their books, meaning they haven't recognized it as an income or asset.
by beeboop 11y ago
Almost assuredly it's a liability on their books, meaning they haven't recognized it as an income or asset.
- sja 11y agoJust a quick technicality note: they would have it on their books as both an asset and a liability. The cash they received would be the asset, and the money owed back as a liability. Have to keep "assets = liabilities + equity" balanced!
- beeboop 11y agoThanks, been a long time since accounting classes.