DOUBTFUL DEBT is a debt where circumstances have rendered its ultimate recovery uncertain. Conservatism requires that doubtful debts should be treated in the same way as bad debts. They should thus be recorded as an expense in the profit and loss account and to be credited to a provision to set off against ultimate default if it occurs.
NSF CHECK see NOT SUFFICIENT FUNDS (NSF) CHECK.
DISCOUNTING is the selling of accounts receivable, usually at less than full value, to a financial entity.
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