Discount allowed to debtors is called as bad debts. (State True or False)
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discount allowed to debates is called as bad debates. true
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Answer:
The above-given statement can be termed as true.
Explanation:
In some cases, the discount allowed to debtors can be referred to as bad debt because both serve as an expense to the company.
Bad debts generally are those debts which once taken from the company are not paid afterwards. These debts are comparable to discount allowed to the debtors when the company is debited and the debtor or receivable is credited.
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