legalxml-sc — archive

RE: Bad debts

From: Cathie Mayo-Figenbaum
To: [email protected]
Date: Tue, 09 Aug 2005 15:43:00 -0000

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Subject: RE: Bad debts




From: "Cathie Mayo" <[email protected]>
To: <[email protected]>,"'Scott McGrath'" <[email protected]>
Date: Tue, 9 Aug 2005 11:43:50 -0400














Hi John, 

Yes, I can explain.

Both Tiga and Panacea were new members who
elected to support the LegalXML Member Section.

So each month a portion of their revenues
were reported under the LegalXML Member Section as earned revenues.

These members were cancelled for non
payment, so the income captured as earned revenue is reversed and categorized
as 

Bad Debt expense.  So, basically the
income and expense net to 0.

Does that help?  

Cathie

 















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