Irrecoverable Debts And Allowance For Doubtful Receivables Flashcards
(3 cards)
1
Q
Irrecoverable debts are also known as B.. D…. ?
A
Bad debts
2
Q
If a there is no chance that a customer will pay its debts owed to a business it needs to be wrote off as an I………… D… ?
A
Irrecoverable debt
3
Q
An estimate made by a business of the likely percentage of its trade recievables which may become irrecoverable during any one account period is called Allowance for D……. R………. ?
A
Allowance for doubtful recievables
