A 2022 contractual agreement with Brianna Inc. entitles Wheeler to $35 million for certain fees...
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Accounting
A contractual agreement with Brianna Inc. entitles Wheeler to $ million for certain fees and expense reimbursements. These amounts were written off as bad debts in Brianna Inc has filed for bankruptcy. On February the bankruptcy court ordered Brianna to pay $ million immediately upon consummation of a proposed merger. Determine the appropriate means of reporting this situation in Wheeler's financial statements according to the FASB Accounting Standards Codification.
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