Answer:
What is BAD DEBT EXPENSE for THIS year?
4000
Explanation:
Aging
Current 20000 2% 400
1-30 50000 4% 2000
31-60 30000 7% 2100
Over 60 10000 25% 2500
7000
Allowance bad debts 3000
Expense 4000
Answer:
I need these points really bad thx so much!!!!
When a debtor offers to pay a lesser amount than the creditor originally claimed was owed, and a creditor accepts, the agreement is called <u>Accord and Satisfaction</u>
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<h3>Who is a debtor?</h3>
A business or person that owes money is called a debtor. If the debt is in the form of a loan from a financial institution, the debtor is referred to as the borrower, and if the debt is in the form of securities, such bonds, the debtor is referred to as the issuer. A voluntarily petitioner for bankruptcy protection is likewise regarded as a debtor for legal purposes.
<h3>Who is a creditor?</h3>
Usually through a loan arrangement or contract, a creditor is a person or organization that offers credit to another party so they can borrow money. Creditors can be categorized as personal or actual.
Learn more about creditor
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Connor has a cause of action for<u> "defamation".</u>
Defamation law is the region of law that identifies with interchanges about the notoriety of someone else. Defamatory speech is a correspondence that may hurt the reputation of another person. The reason for the zone of law is to shield individuals from having their lives and jobs demolished or fundamentally changed due to false articulations against them. Be that as it may, the law still secures an individual's First Amendment ideal to talk openly without being held at risk for saying something annoying, committing an error or contradicting another person. Defamation law is the region of law that looks to ensure an individual's notoriety by forestalling unjustifiable discourse that may hurt an individual's reputation.
