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Even if it's a few dollars you can affor on every bill (try to pay the minimum payment) do it or they will keep coming after you for as long as it takes. If you don't make some effort to contact the Credit Card Co., and try to work out your payments you could well end up in court. When you have a Credit Card you are borrowing money and if you are a responsible individual then you'd try your hardest to pay your debt off and then cut-up your credit card(s). I learned a long time ago that if you can't afford to pay cash for something then you shouldn't get it! * In the US the debtor will continue to receive billing statements until the account is charged off. The account then will be considered in collections and the debtor will be faced with collection procedures either from a contracted collector of the original creditor or an third party collector who purchased the account. All penalties and interest fees will continue to accrue as long as the account remains unpaid in full or settled by agreement. The original creditor or a third party purchaser have the option of filing a civil suit or in some cases filing with the National Arbitration board to collect the debt.

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Continue Learning about Accounting

Where does non cash charge come from?

A non-cash charge originates from accounting entries that affect a company's financial statements without involving actual cash transactions. Common examples include depreciation, amortization, and asset write-downs. These charges reflect the allocation of costs over time or adjustments to asset values, impacting net income but not cash flow. As such, they provide insight into the financial health and operational efficiency of a business without directly affecting its liquidity.


Impact of finance on financial statements?

Finance are the reason for financial statements. Without financial information, financial statements can't be created. Investors use this information to make decisions about investing in a business.


What is the purpose of I statements?

to express feelings without accusing anyone


What does a company typically require of a customer without a credit history?

A company typically requires a customer without a credit history to provide alternative forms of identification, such as a government-issued ID or Social Security number. They may also ask for proof of income, such as pay stubs or bank statements, to evaluate the customer's ability to make payments. Additionally, a security deposit or advance payment might be requested to mitigate risk.


Why are adjusting entries needed?

Adjusting entries are needed to ensure that a company's financial statements reflect the true financial position and performance for a given accounting period. They account for revenues earned and expenses incurred that have not yet been recorded in the accounting system, thus adhering to the accrual basis of accounting. This process helps to match income and expenses accurately, providing a clearer picture of profitability and financial health. Without these adjustments, financial statements may misrepresent a company's actual activities and financial condition.

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Without know what statements you are referring to we cannot answer.


What are some examples of slander and libel in the media industry?

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