Explain what an uncollectible account is?

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Explain what an uncollectible account is?

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Question

Asked 2/7/2012 9:51:37 AM

Updated 4/22/2014 3:49:18 AM

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Flagged by yeswey [4/22/2014 3:47:17 AM]

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User: Explain what an uncollectible account is?

Weegy: They are accounts receivable that a company cannot collect because the client is unable or unwilling to pay. [ If the client is simply unwilling to pay, the company can sue to collect what is owed; however, this incurs its own expenses and may not be worth the effort. If the client is unable to pay, for instance because of bankruptcy, the company writes off the amount lost as bad debt. This reduces the company's revenue, but also reduces its taxable income. ]
OxTornado007|Points 3928|

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Question

Asked 2/7/2012 9:51:37 AM

Updated 4/22/2014 3:49:18 AM

1 Answer/Comment

This conversation has been flagged as incorrect.

Flagged by yeswey [4/22/2014 3:47:17 AM]

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An uncollectible account is An account which cannot be collected by a company because the customer is not able to pay or is unwilling to pay.

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Added 4/22/2014 3:49:18 AM

This answer has been confirmed as correct and helpful.

Confirmed by jeifunk [4/22/2014 8:04:57 AM]

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