Accounting is an efficient procedure of recognizing, recording, estimating, ordering, checking, outlining, translating and conveying the information related to the financial data to the various users of accounting. Bad debt is an amount that a company fails to receive when the debtors or become insolvent. To state: The reason why bad debts written off does not match the revenue and expenses.

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Chapter 7, Problem 2DQ

Summary Introduction

Introduction: Accounting is an efficient procedure of recognizing, recording, estimating, ordering, checking, outlining, translating and conveying the information related to the financial data to the various users of accounting.

Bad debt is an amount that a company fails to receive when the debtors or become insolvent.

To state: The reason why bad debts written off does not match the revenue and expenses.

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