Understanding Bad Debts: Estimation, Write-Off, and Recovery
Understanding Bad Debts: Estimation, Write-Off, and Recovery:
In this video you will learn the basic concept of estimated bad debts, writing off bad debts and recoveries of bad debts.
Estimating Bad Debts:
Estimated bad debts are the anticipated losses a company will incur due to customers who fail to pay their outstanding bills.
Methods of estimation:
There are two primary methods:
Percentage of sales method
Percentage of receivables method
Estimated bad debts adjusting entry.
Writing off bad debts adjusting entry.
Recovery of writing bad debts adjusting entry.
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