Accounts Uncollectible.

The term “accounts uncollectible” refers to money that is owed to a company or individual that cannot be collected. This can happen for a variety of reasons, such as the debtor being unable to pay, or the debtor refusing to pay. When accounts are uncollectible, they are typically written off as bad debt. How do … Read more

Combined Statement Definition.

A combined statement definition is a statement that includes both the activity of an account and the balance of the account. This type of statement is typically used by businesses in order to keep track of both their income and expenses. When can you combine financial statements? You can combine financial statements when you are … Read more