A company will debit bad debts expense and credit this allowance account. The allowance for doubtful accounts is a contra-asset account that nets against accounts receivable, which means that it reduces the total value of receivables when both balanc...
The trial balance is a type of financial report that is generated at the end of an accounting period, prior to the creation of your financial statements. Its main purpose is to allow you to catch any accounting errors and then make any necessary adju...
Just remember that once your private loans are paid off, you should start thinking about putting more money towards your federal loans. By this time you should be earning a higher salary and will be able to pay back more than the minimum. Recalculate...
One isn’t better than the other, but I’m VERY aware of the difference. Personally I prefer semi-monthly paychecks; bills, rent, etc are all monthly expenses, and the bi-weekly schedule for paychecks ensure they often don’t match up with incoming expe...
For travelers to CONUS locations, laundry, dry cleaning, and taxes on lodging may be reimbursed in addition to the per diem rate. The Department of Defense establishes per diem rates for non-foreign locations outside of the continental United States,...