ALLOWANCE FOR BAD DEBTS Definition

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ALLOWANCE FOR BAD DEBTS is an account established to record a subtraction from ACCOUNTS RECEIVABLE, to allow for those accounts that will not be paid.

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CAPITAL FUNDS is the total of capital debentures, if any, capital stock, if any, surplus, undivided profits, unallocated reserves, guaranty fund, and guaranty fund surplus.

JOINT ACCOUNT is a financial account owned by two or more persons who share equally in the rights and liabilities of the account.

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