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Of course. All the plaintiff will need to do however, is publish the summons in the paper and you will still be considered served.
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∙ 15y ago
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Do you credit allowance for bad debt and debit bad debt expense?
you smell
Why doubtful debt is treated as an asset and Bad debt as an expense?
Doubtful debt is treated as asset because it is reduction in accounts receivable before it happen and at actual bad debt time it is offset against bad debt account. Bad debt is expense because this is the loss which business incurred due to bankruptcy or not receiving money from debtors.
What is a bad debt?
A bad debt is a debt which cannot be recovered from the debtor, either because he does not have the money to pay it or because he cannot be found and/or forced to pay.
Allowance for Bad Debts vs bad debt expense?
An allowance for bad debt is essentially a reduction in a bank's accounts receivable. The allowance for bad debt equals the amount of the banks loans that it does not expect to collect.
When is bad debt removed from accounts receviable?
When bad debt amount is recovered then it can be removed from accounts receivable as receivables.
Can simply receiving a summons notifying you that you are being sued damage your credit report?
Receiving a summons has no bearing on your credit report. It is, however, an indication that you are being sued over a bad debt. This debt may have already damaged your credit and certainly any legal action would be extremely damaging. It is always in a consumer's best interests to prevent a judgment from being granted against you. Whatever you do, answer the summons and raise a defense in court.
How come if you say that you are gay or lesbian your mum and dad don't like it and refuse to believe it?
Only bad parents do that. Good parents love and accept their LGBT children. If your parents don't accept you, they are failing as parents, and it has nothing to do with you.
Is it ok to refuse to accept an apology from a co worker?
It's best in a work place to accept an apology even if your true feelings tell you otherwise. If the issue escalates, you will turn out to look like the bad guy/girl.
Is having debt good or bad?
To be in debt is usually considered bad.
How is bad debt different from good debt?
Good debt is an investment helps to build credit. Bad debt is the amount that the entity has lost.
Where do they accept credit cards for a business or businesses?
Many businesses accept payment by credit cards according to information available on the internet. The information states that if a customer or other business department offers a credit card then that method of payment is acceptable as long as their is not a history of bad debt. A history of bad debt would require a direct bank transfer payment or cash payment.
Do you credit allowance for bad debt and debit bad debt expense?
you smell
Non business bad debt personal loan?
It's a personal bad debt
Bad debt on a balance sheet?
No, bad debt is an expense and is reflected on the P&L Statement.
Why doubtful debt is treated as an asset and Bad debt as an expense?
Doubtful debt is treated as asset because it is reduction in accounts receivable before it happen and at actual bad debt time it is offset against bad debt account. Bad debt is expense because this is the loss which business incurred due to bankruptcy or not receiving money from debtors.
How long after bad debt can it be collected?
A bad debt can be collected on indefinitely. The debt is owed until it is paid or written off by the creditor or individual.
What is a bad debt?
A bad debt is a debt which cannot be recovered from the debtor, either because he does not have the money to pay it or because he cannot be found and/or forced to pay.
