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Q: How does a company record a bill in its books that was forgiven by creditor?
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Should you include your charge offs on your bankruptcy?

A very good idea. Any charge off - which is really only an accounting entry on the books of your creditor - that you haven't received an offical agreement/notice that the creditor has actually forgiven the debt and relieved you of having to pay, (not just accepted it may be worth nothing and uncollectable), is still an obligation to you.


Difference between ex date and record date?

The Ex date is the last day which the seller will get the declared dividend. It is generally two trading days before the record date. The record date is the date which the dividend is assigned to the owner on the company's record books. The difference exists because of the time lag between the actual sale of the stock and when it's recorded on the company's books. So if you buy a stock on the day after the Ex date, the seller will still get the dividend because his/her name will appear on the company's books on the record date.


Can you pay an original creditor after the debt is sold to a collector?

No, the collection agency is now the rightful owner of the debt in question and the original creditor has removed the account from their books.


Why a purchese day book?

Purchase day books is used to record all purchases made by company on credit and no other information is available on this book.


How does a Sub S corporation pay off a debt that is on the books?

Writes a check and sends it out to the creditor.


What is the journal entry to record the sale of a company vehicle by an outside party for the exact dollar amount as the loan on the books?

debit loan accountcredit asset account


What is the journal entry to record outstanding debt in a new set of books when the cash was received by the old acquired company?

cash at bank dr account opayable cr


What's the record for most books stacked on top of each other?

The record for the most books stacked on top of each other is 1,200 books, achieved by Tanaka Uirou in Japan in 2012.


How do partnerships record owners' capital?

On Quick Books, where do you record cash that you put back into the business?


What is the world record for reading?

20 books a week


What does 'put it in the books' mean?

Set a new record.


How were books produced before the age of printing?

Historic record show that books were hand written