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What else can I help you with?
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.
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
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.
Bad debt on a balance sheet?
No, bad debt is an expense and is reflected on the P&L Statement.
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.
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.
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.
How can I pay off my debt?
First you must understand the two types of debt. Good Debt and Bad Debt. Good Debt = Appreciating Asset Bad Dept = Depreciating Asset Pay off your bad debt first and you do this by analyzing all your income and expenses. From this information create a budget that includes a debt repayment plan.
Can you file for protection against a company?
What type of protection are you looking for? If you are trying to keep from paying a debt, there is bankruptcy protection.
Is a bad check a considered a debt?
Other than being criminal to write bad checks...as a check is being used to pay a debt (even if the debt just occurred because of the thing you were buying or promise you were making)...and obviously the debt is not paid by a bad check...the debt remains.
