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AmyKidsCo 11:52 AM 10-08-2019
I have parents pay for their last 2 weeks up front, in case they leave without giving notice.

Last week I terminated a family's contract and refunded the amount they'd paid for their last week of care. Since they started 18 months ago the last 2 week payment was recorded as income and tax paid on it back then.

Do I record the refund as an expense?