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View Full Version : How would I account for an overpayment in a previous yr?

dsanderson1
May 3, 2013, 10:05 AM
A customer overpaid tuition in 2012. What expense account would I use when issuing a refund check? What journal entry would need to be made?

[Quikbooks]
paraclete
May 5, 2013, 07:24 PM
Such things are called prior year adjustments