<u>The allowance for </u><u>uncollectible accounts</u> refers to a company that accepts the risk of giving credits to those who may not pay it back. These debts are written off as uncollectable and are a contra asset on the balance reports.
Uncollectable accounts are also often referred to as doubtful accounts. This implies that the company that is giving the credit accepts the possibility that this entity may not return the money. This results in a loss for the company as is recorded as a contra asset on the balance sheets for the company. Some ways for companies to control this loss are:
- Establishing requirements for credits
- Using credit collectors to claim large debts
- Limiting amount of loss permitted based on historical and industry records.
A contra asset or contra account is an account on a companies balance sheet that <u>decreases the balance of certain assets</u>. Contra derives from Latin and means against. Meaning this is an account that goes <u>against the positive balance of the company, </u>it subtracts from the companies earnings.
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i wish i could help but i dont understand the work you where given maybe ask the teacher for some one on one help???????
Geosphere...often known as lithosphere...is affected as atmosphere (air) is polluted and other factors
Answer:
- Animal cells have centrosomes (or a pair of centrioles), and lysosomes, whereas plant cells do not. Plant cells have a cell wall, chloroplasts, plasmodesmata, and plastids used for storage, and a large central vacuole, whereas animal cells do not.
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Answer:
Some substances are made of only one kind of atom. Other substances are made of more than one kind of atom. How are the properties of these two types of substances different?
The properties of both atom differs as a result of presence of different constituents in their atom, the electron of an element made up of one atom would be different from another made up of two atom.
Explanation: