Ledgers are used to account for all money spent and earned in the course of business operations. Using columns for debits and credits, accountants and business managers keep a running balance of ...

You write off your uncollectable accounts by establishing a bad debt expense account and an allowance for doubtful accounts. These accounts include the dollar amount of uncollectable accounts you ...

Will Kenton is an expert on the economy and investing laws and regulations. He previously held senior editorial roles at Investopedia and Kapitall Wire and holds a MA in Economics from The New School ...