How do you book a two-year service contract that is being paid monthly? The issue really is how does it offset the labor used if and when service is required?Thanks!
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A usual charge for a sale of an advanced teaching service from School A is £250. However a Customer performs some duties for School A (ie some cooking/cleaning/teaching a less advanced subject in the school) and therefore only pays £100 for the service usually costing £250.Should Business A record the sale at only £100? Or should the sale be recorded at £250 with £150 allocated to the particular expense?
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