Record various business transactions in accordance with generally accepted accounting principles.
Uncollectibles
This assessment addresses the following course objective(s):
Record various business transactions in accordance with generally accepted accounting principles.
Instructions:
Answer one of the following questions – you may choose any question:
Discuss the various methods for Estimating bad debts. Discuss the features and advantages and disadvantages of each.
What are some factors a company has to take into consideration when extending credit to a customer? What are some best practices for a small company when extended credit to customers?
Do some reach on the web and identify at least 7 best practices for collecting bad debt for a small business.
Interview a small business owner and ask them how they handle collections of slow-to-pay accounts or uncollectible accounts.
Research Small claims court in your state and discuss what a person must do to collect a bad debt from a customer in your state.
Please be sure to validate your opinions and ideas with citations and references in APA format.
Answer preview to record various business transactions in accordance with generally accepted accounting principles.
APA
309 words