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WHEN AN ACCOUNT BALANCE IS WRITTEN OFF WHAT HAPPENS TO THE ACCOUNT BALANCE?
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∙ 8y ago
It goes to a collection agency, prepare to get annoyed and harassing phone calls
Bailee Schulist
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When an account balance is written -off what happens to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
When an account balance is written-off what happens to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
When the account balance is written off what happen to the account balance?
It goes to a collection agency, prepare to get annoyed and harassing phone calls
What does a charge off with a zero balance mean?
A charge off with a zero balance means that a creditor has written off your account as a bad debt. This will show up as a negative mark on your credit report.
What happens to balance on drawings account at the end of accounting year?
Balance of drawing account is write off against owners capital at the end of fiscal year. Journal entry is as follows: [Debit] Owners capital [credit] Drawings account
What is a check balance?
Credit card companies send out checks that you can write to other creditors to pay off the balance. In turn, you get the balance of the other account transfered to your new account (the one who sent you the checks) and your old account is paid off.
What does mean writing off an account?
Canceling the balance of a customer account because the customer does not pay is called writing off an account.
What is a balance transfer check?
Credit card companies send out checks that you can write to other creditors to pay off the balance. In turn, you get the balance of the other account transfered to your new account (the one who sent you the checks) and your old account is paid off.
Why we treat profit and loss account balance in asset side of balance sheet?
whenever net loss is done we shown assets side under head miscelenious asets to written off
What happens is your cat is off balance and scratches his head?
what to do if cat is off balance when he jumps, lands or scratches his head.
What is the statement closing balance?
a closing balance is the amount of money that is in the account when the bank sends out the statement of the cut-off date for that month. for example if you have $75.00 in your account on December 15th, and you have not used the account for a time, and the cut-off date is Dec.15, that $75.00 is the closing balance.
What happens to a joint credit card when one account holder dies?
Both owners of a joint credit card are equally responsible for paying off the balance on the card. When one dies the survivor is responsible for the full balance.
