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Sagot :
It records bad debt expenses when the related sales are recorded. So, it matches the expense with the revenue. It also records the accounts receivables on the balance sheet and an estimated amount of cash to be collected.
An expense is an item requiring an outflow of money, or any shape of fortune in standard, to any other person or institution as the price for an object, provider, or every other class of expenses. For a tenant, rent is an expense. For college kids or dad and mom, a lesson is a price. Buying food, clothing, furnishings, or a car is often called a rate. An expense is a value that is "paid" or "remitted", generally in exchange for something of the fee. Something that seems to price a remarkable deal is "pricey". Something that appears to price little is "less expensive". "prices of the desk" are fees for eating, refreshments, a banquet, and so on. In accounting, the cost is any unique outflow of cash or other treasured assets from a person or agency to any other character or business enterprise. This outflow is normally one side of a trade for services or products that have the same or higher current or future value to the client than to the seller. Technically, an price is an event wherein a proprietary stake is diminished or exhausted, or a legal responsibility is incurred. In phrases of the accounting equation, expenses lessen proprietors' equity.
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