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Do most businesses remove Bad Debt expense from their books at the end of the fiscal calendar year?
yes
How do you calculate the Bad Debt Expense on the income statement report?
credit the account receivable and debit the bad debt expense.
Is bad debt a current liability or expense?
Bad debt is expense to reduce the amount of accounts receivable not recoverable from customers.
Do you credit allowance for bad debt and debit bad debt expense?
you smell
Different names for bad debt expense?
Uncollectible Accounts Expense.
Do most businesses remove Bad Debt expense from their books at the end of the fiscal calendar year?
yes
Most businesses remove Bad Debt expense from their books at the end of the fiscal calendar year?
yes
Is bad debt expense a variable cost expense?
According to The Entrepreneur's Guide to Writing Business Plans and Proposals that can be found in google books, bad debt expense is a variable expense because the amount of bad debt depends on the amount of sales.
How do you calculate the Bad Debt Expense on the income statement report?
credit the account receivable and debit the bad debt expense.
Is bad debt a current liability or expense?
Bad debt is expense to reduce the amount of accounts receivable not recoverable from customers.
Do you credit allowance for bad debt and debit bad debt expense?
you smell
Bad debt is an expense?
Yes.
What expense classification would bad debt expense be listed under?
Admin expense
Different names for bad debt expense?
Uncollectible Accounts Expense.
Bad debt on a balance sheet?
No, bad debt is an expense and is reflected on the P&L Statement.
How do you write an adjusting entry for bad debt expense?
Debit to bad debt expense, credit to allowance for doubtful accounts. The figure would be your yearly estimate.
Do bad debt expense has a debit balance?
yes
