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Bsuiness bad debt #1
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:) I am trying to some research to see if I can deduct a business bad debt. In an example from a book, I run into a sentence like this: Bad debt expense (of the $4000 reserve established, $500 was written off as being currently uncollectible). Does it mean I can deduct $500 only? Or the other...
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Need to make adjusting entry. Bad debts are estimated to be 8% of total net credit sales (do not include rentals). I was taking number from sales journal (Sales Cr) but was told by instructor that was wrong. Which journal should I be looking at or should I look in ledger? Where do I find the...
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We would like to change our bad debit expense from being an overhead expense account to a cost of sales expense account. Is this okay?
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Can someone help with the following accounting exercise? The following info was listed in company X balance sheet as of 2005 Aacounts Rec for 2004 150,000 Aacounts Rec for 2005 250,000 Allowance for bad debt in 2004 was 8,200 Allowance for bad debt in 2005 was 12,000
Charged Off as Bad Debt
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Hi, my question is regarding my old account with Capital One Services. Under Pay Status: It is listed as <Charged Off as Bad Debt>, then under Remark: >Settled - less than full balance< I had no choice at that time, but to accept their offer and pay it off as stated above. Date Opened: 4/1999,... View more questions Search
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