A bad debt is a expense which affects the owners equity as it is charged against the profit and loss account and it decreases the profit of the business.
Neither, a bad debt becomes an expense on the P&L. the provision created against this is liability
Decrease in asset means being using of it decreases and liability decrease means payable of debts decreases.
asset . it is contra to account receivable. and it has -Ve value . -ankur
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
yes It is an Asset, not a Liability.
asset
Bad debt is an expense and so reflected in the P&L statement. The allowance for bad debts is a contra-asset account and offsets the amount of the receivable.
asset liability
It is an asset
Asset.
asset
asset