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.
Bad Debts Expense is a real account and remains open at the end of the fiscal period, while Allowance for Doubtful Accounts is a nominal account and is closed at the end of the fiscal period. Obama Company has identified that Bill Clinton's receivable account of $100 is uncollectible.