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The YOC-Elvin Account
There was maintained on YOC's books and records an asset
account entitled Accounts Receivable-Customers (Account 220).
This account was used generally to record amounts due from YOC's
customers. At Elvin's direction, a subaccount was established
and maintained within Account 220 to record transfers of funds by
YOC to, or for the benefit of, Elvin. This YOC subaccount is
hereinafter referred to as the YOC-Elvin Account.
Transfers of funds by YOC to Elvin or for Elvin's benefit
were made at Elvin's direction, and they were recorded as debits
or increases to the balance of the YOC-Elvin Account.
Certain payments made by Elvin to YOC and certain salary and
other adjustments were recorded as credits or decreases to the
balance of the YOC-Elvin Account.
On December 31 of each of the years 1982 through 1986, there
was reflected in the YOC-Elvin Account an outstanding debit
balance as follows:
Debit
Year Balance
1982 $ 87,465
1983 223,138
1984 240,648
1985 305,473
1986 564,412
The four schedules set forth below (one schedule for each
year) reflect in detail the transfers of YOC's funds that
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Last modified: May 25, 2011