Amounts that are due to a company that the company feels will never be paid back to them. When a company offers its products or services to clients on a credit basis, the two parties come to an agreement that payment will be postponed for a certain amount of time—typically thirty days—before being made.
This is further explained below.
What are irrecoverable debts?
Generally, Amounts that are due to a company that the company feels will never be paid back to them.
In conclusion, When a company offers its products or services to clients on a credit basis, the two parties come to an agreement that payment will be postponed for a certain amount of time—typically thirty days—before being made.
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