Difference between revisions of "Bad Debts Recovered"
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Revision as of 09:47, 20 December 2018
Bad Debts Recovered is when an account receivable has been written off and is recovered, this account, which is in the Other Revenue category, is credited in the direct write-off method if the recovery is in a year following the write-off.
Definitions
According to College Accounting: A Practical Approach by Slater (13th edition),
- Bad Debts Recovered. When an account receivable has been written off and is recovered, this account, which is in the Other Revenue category, is credited in the direct write-off method if the recovery is in a year following the write-off.
Related concepts
- Accounting (alternatively known as accountancy) is management of financial data, information, and knowledge about financial transactions of legal entities. Accountancy tends to include bookkeeping and, depending on a particilar enterprise, may also include quatitative analysis of financial data in the bookkeeping system and/or business intelligence.
