I'm getting ready to record COD income on a client's books, but I'm wondering if there's any chance the cancellation of the balance of the debt used to purchase Goodwill a few years ago, could/should instead reduce said Goodwill. Ultimately the Goodwill wasn't purchased for as much as initially believed, would be the rationale.
I think this is a simple COD situation but I wanted inquire to see if what I've proposed is an option.