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?