Category Archives: Bookkeeping

Litigation support and forensic accounting is available for issues like divorces, business valuations, and bankruptcies. Dixon Accounting Services specializes in tax and accounting services for individuals and small businesses, and the initial consultation is free. The company provides tax planning, retirement planning, and return preparation for individuals, and helps customers with IRS audits, levies, and …

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Bad Debt Expense increases (debit), and Allowance for Doubtful Accounts increases (credit) for $22,911.50 ($458,230 × 5%). Let’s say that on April 8, it was determined that Customer Robert Craft’s account was uncollectible in the amount of $5,000. For the taxpayer, this means that if a company sells an item on credit in October 2018 …

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