uncollectible accounts expense
See Bad Debts Expense.
» For more clarity on this term: ...
Uncollectible Account
Accounting Dictionary:
Uncollectible Account
Home > Library > Business & Finance > Accounting Dictionary ...
uncollectible account
account receivable, note receivable,or other type of receivable that is unlikely to be paid. An example is a customer who is bankrupt or on the verge of default.
ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS - see ALLOWANCE FOR BAD DEBTS.
ALLOWANCE METHOD - the accepted way to account for bad debt. Bad debt expense may be based on the perce...
ALLOWANCE FOR UNCOLLECTIBLE ACCOUNTS
An account established to record a subtraction from ACCOUNTS RECEIVABLE, to allow for those accounts that will not be paid.
START-UP LOAN ...
Uncollectible account (bad debt) - This refers to accounts receivable, note receivable, or other type of receivable that is unlikely to be paid.
Uncollectible account
An account which cannot be collected by a company because the customer is not able to pay or is unwilling to pay.
Underbanked ...
uncollectible accounts An account receivable that cannot be collected, sometimes called a bad debt.
unemployment taxes Taxes collected to provide funds for workers who are temporarily out of work; usually paid only by the employer.
Review an accounts receivable aging report and remove uncollectible accounts, taking them as a bad debt expense.
Inventory that is not good and sellable. Inventory that has become damaged or obsolete should be adjusted out.
With this equally acceptable allowance technique, an estimated percentage of sales (or credit sales) is simply debited to Uncollectible Accounts Expense and credited to the Allowance for Uncollectible Accounts each period.
Bad Debt Expense. Generally, the cost of uncollectible accounts receivable which occurs when customers to whom a business has extended credit fail to pay. It can also refer to any debt owed you which is uncollectible.
ALACHUA COUNTY Policy on Removal of Uncollectible Accounts from the Financial Statements (Amended)
696200 Miscellaneous Transaction Code is used for small dollar balances at Duke University
Definition and examples of write-off on Wikinvest ...
An operating expense recorded when the allowance for
doubtful accounts is increased to accommodate an increase in uncollectible accounts receivable.
Sales Revenue Revenue recognized from the sales of products as opposed to the provision of ...
Open balance or loan receivable that is considered uncollectible and is written off by a firm. (Reserves are usually maintained for uncollectible accounts.) The relationship of recoveries and write-offs to accounts receivable can indicate a firm's ...
The credit sales method is a method of estimating uncollectible accounts receivable by establishing the percentage of sales that are historically uncollectible.
Credit terms ...
The amount of bank deposits in the form of checks that have not yet been paid by the banks on which the checks are drawn.
Uncollectible account ...
allowance for doubtful accounts A contra asset account with a credit balance used to reduce the carrying amount of accounts receivable to net realizable value. The allowance balance is the estimated total of uncollectible accounts included in ...
 See also: Expense, Net sales, Administration, Production cost, Chief executive officer
  
|
RSS
