Accounting for Receivables and Bad Debt

Accounting for Receivables and Bad Debt

This accounts receivable training covers the proper accounting for receivables and related issues surrounding uncollectible accounts/bad debts. A brief discussion of the direct write-off method will explain why the allowance method is the better approach. The subtle differences between the Balance Sheet approach vs. the Income Statement approach are presented. Additionally, simple interest on notes receivable are calculated and detailed examples are provided.

This course presents the proper accounting for receivables surrounding uncollectible accounts and bad debt.

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What you will learn

• Define key terms regarding receivables and bad debts.
• Discover the sequence of events related to the three primary journal entries related to accounting for bad debts.
• Recognize the impact of accounting for bad debts on the related accounts.

Rating: 4.6

Level: Beginner Level

Duration: 1.5 hours

Instructor: Illumeo Learning