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Legal Word of the Day
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- bad debt
- the debt that can not be collected for different reasons.
Generally, credit card debts used to purchase basic nesessities as well as hospital care debts considered "bad debts".
Accounts receivable that will likely remain uncollectable and will be written off. Bad debts appear as an expense on the company's income statement, thus reducing net income. … Full Definition »
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Teresa D TeareAttorney at LawPRACTICE AREA: Labor & Employment Law, Litigation, Animal Law
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