After you complete a credit application, the lender decides if you are a good risk. Agencies that collect credit information about individuals are called credit bureaus. For a fee, they provide information about you that lenders need to decide if you are a good risk. The information you provide on your application is checked against the information the credit bureaus have collected about you. Why is your credit application approved or denied?

When you hire an independent contractor you don't have to pay the contractors what

As related to a company completing the purchase to pay process, is there an accounting journal entry "behind the scenes" when xyz company pays for the goods within 10 days of the invoice (gross method is used for discounts and terms are 2/10 net 30) that updates the general ledger?

Record the journal entry for the provision for uncollectible accounts under each of the following independent assumptions: a. the allowance for doubtful accounts before adjustment has a credit balance of $500. b. the allowance for doubtful accounts before adjustment has a debit balance of $250. c. assume that octoberʼs credit sales were $70,000. uncollectible accounts expense is estimated at 2% of sales. smith, gaylord n.. excel applications for accounting principles (p. 51). cengage textbook. kindle edition.