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Thread: Rights as a creditor
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  #9  
Old 09-04-2006, 08:24 AM
r8rpwr r8rpwr is offline
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Join Date: Aug 2006
Posts: 61
The amount of bad debt is deductible if you keep your books on an accrual basis only.

If you are on a cash basis, then you never picked up the income so logically you don't deduct it when there is a bad debt either.

Either way, the net effect is zero, which is as it should be.
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