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How to record court ordered restitution (receivable and payments)
There was a theft from the business in a previous year, the loss of the item was expensed then. Now there is court-ordered restitution this person must pay back to the business. How do I:
- enter in the overall restitution amount (the receivable, let's say it's 5,000.00), and
- how do I enter in the subsequent restitution payments?
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