Question
Al Rajhi Bank provided banking services to customers during the fiscal year 2023. The total amount of service fees earned was SAR 50,000,000. However, SAR
Al Rajhi Bank provided banking services to customers during the fiscal year 2023. The total amount of service fees earned was SAR 50,000,000. However, SAR 5,000,000 of these fees were collected in advance and will be recognized as revenue in the subsequent year. Calculate the adjusted revenue for Al Rajhi Bank for 2023.
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Accounting Volume 1
Authors: Charles T. Horngren, Walter T. Harrison, Jo Ann L. Johnston, Carol A. Meissner, Peter R. Norwood
9th Canadian edition
978-013309863, 9780133128338, 013309863X, 133128334, 978-0132690096
