Accounts Receivable (AR) Automation: The Solution To The Collection Problem
Accounting Seed
NOVEMBER 23, 2022
You debit the $12,500 to AR and credit the same amount to your sales account. This is known as balancing your accounts/books. You recognize this in your accounting with a “bad debt” entry. Say a regular customer has given you their credit card information but they’ve had to cancel the card.
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