A company accounts for possible bad debts using the allowance method. When an actual bad debt occurs, what effect does it have on the accounting equation

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boston9249 boston9249

12-07-2022
Business

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A company accounts for possible bad debts using the allowance method. When an actual bad debt occurs, what effect does it have on the accounting equation

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ayokenny2001 ayokenny2001 · Answer 1 · 2022-07-18T18:11:28+02:00

ayokenny2001 ayokenny2001

18-07-2022

When an actual bad debt occurs, it would have no effect on accounting equation.

What is bad debts?

These are debts owned by a customer to a business, which are irrecoverable.

Bad debt are used to describe any outstanding balances owed by individual or firms, which are deemed no longer recoverable and thus, must be written off on account.

Learn more about bad debts here: https://brainly.com/question/24871617

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