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Bad Debt
There are two methods for accounting for bad debt. One is based on when accounts receivable balances are written off and the other is based on an estimate of historically bad balances. Knowing which one your company is using and how the pool of bad debts is being carried on the balance sheet is important if you want accurate information on sales and receivables.
Good debt bad debt
Peter Boehm CEO of Our Home Sweet Home explains the difference between good and bad debt and provides some tips on how you can get rid of bad debt
Bad debt expense
Use aging schedule to calculate ending balance in ADA and BDE.
Chapter 7 Explanation (Bad Debt)
Why Foreclosing Lenders Charge off Bad Debt!
This week’s PreForeclosure Daily Grind video will give you some great inside information on why and how banks access and calculate what they are willing to take in their pockets in order to accept a short sale. This video is focused around the 2nd lien position and we got this info from a Recovery Departments Supervisor. Also, we announce our ManageMyShortSale.com Newsletter and our 5 part webinar series for our ManagemyShortSale.com students.