Account Receivables

Question by ac: What is the formula for determining Bad Debt? It’s an accounting formula that I cannot find. Best answer: Answer by reportmepleasethat’s because there ISN’t a formula….the allowance for bad debts is made by the managers/finance department and is on a case by case basis basically…..usually based on historical trends, and perhaps since [...]

Question by ac: What is the formula for determining Bad Debt? It’s an accounting formula that I cannot find. Best answer: Answer by reportmepleasethat’s because there ISN’t a formula….the allowance for bad debts is made by the managers/finance department and is on a case by case basis basically…..usually based on historical trends, and perhaps since [...]

Question by bungalo: How to get rid of some bad debt? I have an old apartment that things didnt go well due to a sex offender living next door so I had to move out. They say they have dirt on me too and I think if it went to court they would win due [...]

Question by Aunt Bee: Is the a law on how long a bad debt can stay on your credit? Someone opened an account at a Gym in my name back in 2000.I first found out about it in 2003 and contacted the collection agency and told them it wasn’t me and I’m not about to [...]

Question by a_name_i_couldnt_find: Confusion on reporting Bad Debt Expense? When reporting a bad debt expense on a financial statement, do we include a debit balance for the Allowance for Uncollectible Account? Or does the bad debt expense just include all the estimated debt(past due) that we will not receive and the Allowance for Uncollectible Account [...]

Question by Crystal A: So I have paid off all my bad debt on my Credit report? Ihad a judegment on my report for the amount of 1766.00 when I called they told me the total amount was 4700.00 because of Intrest, but they would settle it and send me a paid in full letter. [...]

Question by bratz girl 21: Is there a such thing as “good debt” versus “bad debt”? The reason why I’m asking this question is because I have some student loan debt and I’ve heard that student loan debt is actually a form a “good debt” but in my opinion being in debt is a bad [...]

Question by Jules: Bad Debt Reporting and Ethical Decision in Accounting? Marvin Company is a subsidiary of Hughes Corp. The controller believes that the yearly allowance for doubtful accounts for Marvin should be 2% of net credit sales. The president nervous that the parent company might expect the subsidiary to sustain its 10% growth rate, [...]

Question by : How is US being debt free a bad thing for the US economy and other economies? I apologies for my lack of knowledge on this subject, but somewhere I read that national debt is actually a good thing to carry and being debt free would trigger a world economic crisis. I do [...]

Question by jsciborek: Is there a way to find out if a Creditor has dropped, forgave or wrote off as a bad debt, Your credit w/them? I want to know if there are any websites or anyway, to know for sure if a creditor has forgave or wrote off your debt to them? Best answer: [...]