All Essential Benefits/Effects/Facts & Information. Olive leaf extract is a supplement derived from the leaves of the plant that bears olive (a fruit from which the cooking oil is derived from) and contains the main bioactives of hydroxytyrosol/tyrosol and oleuropein/ligstroside.
When a customer defaults on an amount due, this is called bad debt. When an account is deemed to be uncollectible, the business must remove the receivable from the books and record an expense. This is considered an expense because bad debt is a cost of doing business.
Here, the account Bad debt expense is a normal expense category account whose balance increases with a debit transaction. The other account, Allowance for doubtful accounts is an asset category account, but it is also a contra asset account.his, in turn, creates an entry in a balance sheet account (contra asset account) called allowance for doubtful accounts, The examples below explain and illustrate how a company writes off bad debt and how these accounts impact each other.