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Do you credit allowance for bad debt and debit bad debt expense?

Answer:

you smell

First answer by ID1377331236. Last edit by ID1377331236. Question popularity: 1 [recommend question].

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Is allowance for bad debts debit or credit?
It depends on how you do it. If you use a place that consolidates your debt by asking credit card companies & the like to reduce your debt or interest rate, then yes, it could be harmful to your....
Is allowance for bad debts a credit or debit balance?
It is a DEBIT balance. under no circumstances will this account be a credit balance because essentially you are setting aside money to cover A/R that will never be recieved.
Bad debt is an expense?
Yes.
Can debt consolidation be bad for your credit?
It depends on how you do it. If you use a place that consolidates your debt by asking credit card companies & the like to reduce your debt or interest rate, then yes, it could be harmful to your...
Is allowance for bad debts a asset?
asset . it is contra to account receivable.and it has -Ve value . -ankur