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General Accounting Discussions: Revenue recognition

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    I am working with a Bible Conf. facility that has a tent & trailer facility and cottage owners HOA. About 25 families live there year round. Costs are assessed annually at about $1,200 to $1,500 per site. I believe the revenue can be recognized when invoiced but there are a number of folks that are behind in payments. Should their billings be treated as Deferred Revenue until paid or treated as Reserve for Bad Debts and current year revenue? This organization is a 501-c-3.

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