The company had to make a bad debt write-off after the client declared bankruptcy.
Компания была вынуждена произвести списание безнадежного долга после того, как клиент объявил о банкротстве.
Определения
A bad debt write-off is an accounting action taken to remove an uncollectible account receivable from a company's balance sheet, recognizing that the debt is unlikely to be paid. This typically occurs when a customer fails to pay their debt after multiple attempts to collect, and the company decides to acknowledge the loss for financial reporting purposes.
