Bad Debts and Profit & Loss Statements

Discussion in 'Accounting' started by Mulligan, Jul 29, 2003.

  1. Mulligan

    Mulligan Guest

    Hi,

    Need your help on a basic question on balance sheets and profit and loss
    statements.

    Suppose a company ABC sells some equipment for USD 10,000 on 60 days credit
    on May 1.

    In the financial statements of ABC, the amount of USD 10,000 is shown as
    Sales in the profit and loss statement and also accounts receivable in the
    balance sheet.

    It is June 30 and the closing of the quarterly accounts. ABC has not
    received the USD 10,000 on its due date due to various reasons.
    ABC decides to specify the 10,000 as Bad Debts in the P & L and releases the
    financial statements.


    A few months later, the buyer decides to pay back the 10,000 that they owed
    ABC.

    How does ABC record this in the financial statement (especially the P&L).
    They have already specified it as Bad Debts in the P&L.
    How does ABC show this 'unexpected' income.

    Its easy to put this in the Cash Flow statement as Cash in - but how about
    the P & L.


    Regards
     
    Mulligan, Jul 29, 2003
    #1
    1. Advertisements

  2. Mulligan

    john Guest

    "Mulligan" <> wrote in message
    news:VHoVa.294$...
    > Hi,
    >
    > Need your help on a basic question on balance sheets and profit and loss
    > statements.
    >
    > Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    credit
    > on May 1.
    >
    > In the financial statements of ABC, the amount of USD 10,000 is shown as
    > Sales in the profit and loss statement and also accounts receivable in the
    > balance sheet.
    >
    > It is June 30 and the closing of the quarterly accounts. ABC has not
    > received the USD 10,000 on its due date due to various reasons.
    > ABC decides to specify the 10,000 as Bad Debts in the P & L and releases

    the
    > financial statements.
    >
    >
    > A few months later, the buyer decides to pay back the 10,000 that they

    owed
    > ABC.
    >
    > How does ABC record this in the financial statement (especially the P&L).
    > They have already specified it as Bad Debts in the P&L.
    > How does ABC show this 'unexpected' income.
    >
    > Its easy to put this in the Cash Flow statement as Cash in - but how about
    > the P & L.
    >
    >
    > Regards


    hint: examine the "allowance for bad debts" account
     
    john, Jul 29, 2003
    #2
    1. Advertisements

  3. Mulligan

    DGG Guest

    If the debt was directly written off, that is, no "allowance for bad
    debts" contra asset acount is used, the original entry would have
    been:

    Bad debts expense 10,000
    Accts Receivable 10,000


    When payment from XYZ is actually received the reversing entry would
    be:

    Cash 10,000
    Bad debts expense 10,000



    However, if proper accounting was used and a contra receivable account
    was in place, the entry would have been

    Allow for bad debts 10,000
    Accts Receivable 10,000

    When the cash was received the entry would be

    Cash 10,000
    Allow for bad debts 10,000


    Keep in mind that with the allowance for bad debts accounts an
    estimate is made each period for bad debts based on the company
    history and business judgement. This better "matches" the bad debt to
    the period in which is actually occurred.

    DGG
    "I am not a bigot: I hate everyone, separately, but equally"


    On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    wrote:

    >Hi,
    >
    >Need your help on a basic question on balance sheets and profit and loss
    >statements.
    >
    >Suppose a company ABC sells some equipment for USD 10,000 on 60 days credit
    >on May 1.
    >
    >In the financial statements of ABC, the amount of USD 10,000 is shown as
    >Sales in the profit and loss statement and also accounts receivable in the
    >balance sheet.
    >
    >It is June 30 and the closing of the quarterly accounts. ABC has not
    >received the USD 10,000 on its due date due to various reasons.
    >ABC decides to specify the 10,000 as Bad Debts in the P & L and releases the
    >financial statements.
    >
    >
    >A few months later, the buyer decides to pay back the 10,000 that they owed
    >ABC.
    >
    >How does ABC record this in the financial statement (especially the P&L).
    >They have already specified it as Bad Debts in the P&L.
    >How does ABC show this 'unexpected' income.
    >
    >Its easy to put this in the Cash Flow statement as Cash in - but how about
    >the P & L.
    >
    >
    >Regards
    >
    >
     
    DGG, Jul 29, 2003
    #3
  4. If the allowance method allows for better matching, than how does the entry
    (debiting allowance, crediting A/R) make any sense? Matching is intended to
    match expenses and income, and the entry you've made has no impact on the
    income statement. The more appropriate entry would have been to debit bad
    debts expense and credit allowance for bad debts, would it not? That's the
    point of the allowance - to act as a credit against accounts receivable and
    show that not all of it might be collectible.

    "DGG" <> wrote in message
    news:...
    > If the debt was directly written off, that is, no "allowance for bad
    > debts" contra asset acount is used, the original entry would have
    > been:
    >
    > Bad debts expense 10,000
    > Accts Receivable 10,000
    >
    >
    > When payment from XYZ is actually received the reversing entry would
    > be:
    >
    > Cash 10,000
    > Bad debts expense 10,000
    >
    >
    >
    > However, if proper accounting was used and a contra receivable account
    > was in place, the entry would have been
    >
    > Allow for bad debts 10,000
    > Accts Receivable 10,000
    >
    > When the cash was received the entry would be
    >
    > Cash 10,000
    > Allow for bad debts 10,000
    >
    >
    > Keep in mind that with the allowance for bad debts accounts an
    > estimate is made each period for bad debts based on the company
    > history and business judgement. This better "matches" the bad debt to
    > the period in which is actually occurred.
    >
    > DGG
    > "I am not a bigot: I hate everyone, separately, but equally"
    >
    >
    > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > wrote:
    >
    > >Hi,
    > >
    > >Need your help on a basic question on balance sheets and profit and loss
    > >statements.
    > >
    > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    credit
    > >on May 1.
    > >
    > >In the financial statements of ABC, the amount of USD 10,000 is shown as
    > >Sales in the profit and loss statement and also accounts receivable in

    the
    > >balance sheet.
    > >
    > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > >received the USD 10,000 on its due date due to various reasons.
    > >ABC decides to specify the 10,000 as Bad Debts in the P & L and releases

    the
    > >financial statements.
    > >
    > >
    > >A few months later, the buyer decides to pay back the 10,000 that they

    owed
    > >ABC.
    > >
    > >How does ABC record this in the financial statement (especially the P&L).
    > >They have already specified it as Bad Debts in the P&L.
    > >How does ABC show this 'unexpected' income.
    > >
    > >Its easy to put this in the Cash Flow statement as Cash in - but how

    about
    > >the P & L.
    > >
    > >
    > >Regards
    > >
    > >

    >
     
    The Prophet, Bubba Hoshimoto, Jul 29, 2003
    #4
  5. See:

    http://www.toolkit.cch.com/text/P06_1552.asp

    "DGG" <> wrote in message
    news:...
    > If the debt was directly written off, that is, no "allowance for bad
    > debts" contra asset acount is used, the original entry would have
    > been:
    >
    > Bad debts expense 10,000
    > Accts Receivable 10,000
    >
    >
    > When payment from XYZ is actually received the reversing entry would
    > be:
    >
    > Cash 10,000
    > Bad debts expense 10,000
    >
    >
    >
    > However, if proper accounting was used and a contra receivable account
    > was in place, the entry would have been
    >
    > Allow for bad debts 10,000
    > Accts Receivable 10,000
    >
    > When the cash was received the entry would be
    >
    > Cash 10,000
    > Allow for bad debts 10,000
    >
    >
    > Keep in mind that with the allowance for bad debts accounts an
    > estimate is made each period for bad debts based on the company
    > history and business judgement. This better "matches" the bad debt to
    > the period in which is actually occurred.
    >
    > DGG
    > "I am not a bigot: I hate everyone, separately, but equally"
    >
    >
    > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > wrote:
    >
    > >Hi,
    > >
    > >Need your help on a basic question on balance sheets and profit and loss
    > >statements.
    > >
    > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    credit
    > >on May 1.
    > >
    > >In the financial statements of ABC, the amount of USD 10,000 is shown as
    > >Sales in the profit and loss statement and also accounts receivable in

    the
    > >balance sheet.
    > >
    > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > >received the USD 10,000 on its due date due to various reasons.
    > >ABC decides to specify the 10,000 as Bad Debts in the P & L and releases

    the
    > >financial statements.
    > >
    > >
    > >A few months later, the buyer decides to pay back the 10,000 that they

    owed
    > >ABC.
    > >
    > >How does ABC record this in the financial statement (especially the P&L).
    > >They have already specified it as Bad Debts in the P&L.
    > >How does ABC show this 'unexpected' income.
    > >
    > >Its easy to put this in the Cash Flow statement as Cash in - but how

    about
    > >the P & L.
    > >
    > >
    > >Regards
    > >
    > >

    >
     
    The Prophet, Bubba Hoshimoto, Jul 29, 2003
    #5
  6. Mulligan

    JD Guest

    You obviously have no knowledge of financial accounting. This is not about
    the income statement. This is about the balance sheet. Assets = Total
    Liability and Equity. Thus the bad debts expense is a liability and AR is an
    asset.
    What DGG wrote is correct.

    "The Prophet, Bubba Hoshimoto" <> wrote in message
    news:...
    > If the allowance method allows for better matching, than how does the

    entry
    > (debiting allowance, crediting A/R) make any sense? Matching is intended

    to
    > match expenses and income, and the entry you've made has no impact on the
    > income statement. The more appropriate entry would have been to debit bad
    > debts expense and credit allowance for bad debts, would it not? That's

    the
    > point of the allowance - to act as a credit against accounts receivable

    and
    > show that not all of it might be collectible.
    >
    > "DGG" <> wrote in message
    > news:...
    > > If the debt was directly written off, that is, no "allowance for bad
    > > debts" contra asset acount is used, the original entry would have
    > > been:
    > >
    > > Bad debts expense 10,000
    > > Accts Receivable 10,000
    > >
    > >
    > > When payment from XYZ is actually received the reversing entry would
    > > be:
    > >
    > > Cash 10,000
    > > Bad debts expense 10,000
    > >
    > >
    > >
    > > However, if proper accounting was used and a contra receivable account
    > > was in place, the entry would have been
    > >
    > > Allow for bad debts 10,000
    > > Accts Receivable 10,000
    > >
    > > When the cash was received the entry would be
    > >
    > > Cash 10,000
    > > Allow for bad debts 10,000
    > >
    > >
    > > Keep in mind that with the allowance for bad debts accounts an
    > > estimate is made each period for bad debts based on the company
    > > history and business judgement. This better "matches" the bad debt to
    > > the period in which is actually occurred.
    > >
    > > DGG
    > > "I am not a bigot: I hate everyone, separately, but equally"
    > >
    > >
    > > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > > wrote:
    > >
    > > >Hi,
    > > >
    > > >Need your help on a basic question on balance sheets and profit and

    loss
    > > >statements.
    > > >
    > > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    > credit
    > > >on May 1.
    > > >
    > > >In the financial statements of ABC, the amount of USD 10,000 is shown

    as
    > > >Sales in the profit and loss statement and also accounts receivable in

    > the
    > > >balance sheet.
    > > >
    > > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > > >received the USD 10,000 on its due date due to various reasons.
    > > >ABC decides to specify the 10,000 as Bad Debts in the P & L and

    releases
    > the
    > > >financial statements.
    > > >
    > > >
    > > >A few months later, the buyer decides to pay back the 10,000 that they

    > owed
    > > >ABC.
    > > >
    > > >How does ABC record this in the financial statement (especially the

    P&L).
    > > >They have already specified it as Bad Debts in the P&L.
    > > >How does ABC show this 'unexpected' income.
    > > >
    > > >Its easy to put this in the Cash Flow statement as Cash in - but how

    > about
    > > >the P & L.
    > > >
    > > >
    > > >Regards
    > > >
    > > >

    > >

    >
    >
     
    JD, Jul 29, 2003
    #6
  7. Mulligan

    JD Guest

    One thing I forgot to mention. What you do to one side of the balance sheet
    must be done to the other. In a manner of speaking.

    "The Prophet, Bubba Hoshimoto" <> wrote in message
    news:...
    > If the allowance method allows for better matching, than how does the

    entry
    > (debiting allowance, crediting A/R) make any sense? Matching is intended

    to
    > match expenses and income, and the entry you've made has no impact on the
    > income statement. The more appropriate entry would have been to debit bad
    > debts expense and credit allowance for bad debts, would it not? That's

    the
    > point of the allowance - to act as a credit against accounts receivable

    and
    > show that not all of it might be collectible.
     
    JD, Jul 29, 2003
    #7
  8. You're obviously a bit of a jerk.

    "The matching concept focuses on income determination; its goal is to
    ensure the recognition of expenses in the period they contribute to the
    generation of revenue."

    He's the one that mentioned matching. Matching relates to the income
    statement.

    The way he talked about doing an allowance for bad debts is wrong. There
    has to be an income statement impact, to bad debts expense, otherwise it's
    meaningless. All he's done is allocate some A/R to the allowance, with the
    allowance then showing up as a debit.

    "It is also called Allowance for Doubtful Accounts. It is an estimate of
    uncollectible customer accounts. It is called a "contra" account because it
    is listed with the current assets on the balance sheet although it is a
    credit balance account. The account balance is determined through use of the
    Historical Method or Over 90 Days Past Due Method."

    I think you need to pull your head out of your ass. Unless you're trolling,
    in which case I took the bait.

    "JD" <> wrote in message
    news:lKvVa.27703$zd4.9605@lakeread02...
    > You obviously have no knowledge of financial accounting. This is not about
    > the income statement. This is about the balance sheet. Assets = Total
    > Liability and Equity. Thus the bad debts expense is a liability and AR is

    an
    > asset.
    > What DGG wrote is correct.
    >
    > "The Prophet, Bubba Hoshimoto" <> wrote in message
    > news:...
    > > If the allowance method allows for better matching, than how does the

    > entry
    > > (debiting allowance, crediting A/R) make any sense? Matching is

    intended
    > to
    > > match expenses and income, and the entry you've made has no impact on

    the
    > > income statement. The more appropriate entry would have been to debit

    bad
    > > debts expense and credit allowance for bad debts, would it not? That's

    > the
    > > point of the allowance - to act as a credit against accounts receivable

    > and
    > > show that not all of it might be collectible.
    > >
    > > "DGG" <> wrote in message
    > > news:...
    > > > If the debt was directly written off, that is, no "allowance for bad
    > > > debts" contra asset acount is used, the original entry would have
    > > > been:
    > > >
    > > > Bad debts expense 10,000
    > > > Accts Receivable 10,000
    > > >
    > > >
    > > > When payment from XYZ is actually received the reversing entry would
    > > > be:
    > > >
    > > > Cash 10,000
    > > > Bad debts expense 10,000
    > > >
    > > >
    > > >
    > > > However, if proper accounting was used and a contra receivable account
    > > > was in place, the entry would have been
    > > >
    > > > Allow for bad debts 10,000
    > > > Accts Receivable 10,000
    > > >
    > > > When the cash was received the entry would be
    > > >
    > > > Cash 10,000
    > > > Allow for bad debts 10,000
    > > >
    > > >
    > > > Keep in mind that with the allowance for bad debts accounts an
    > > > estimate is made each period for bad debts based on the company
    > > > history and business judgement. This better "matches" the bad debt to
    > > > the period in which is actually occurred.
    > > >
    > > > DGG
    > > > "I am not a bigot: I hate everyone, separately, but equally"
    > > >
    > > >
    > > > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > > > wrote:
    > > >
    > > > >Hi,
    > > > >
    > > > >Need your help on a basic question on balance sheets and profit and

    > loss
    > > > >statements.
    > > > >
    > > > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    > > credit
    > > > >on May 1.
    > > > >
    > > > >In the financial statements of ABC, the amount of USD 10,000 is shown

    > as
    > > > >Sales in the profit and loss statement and also accounts receivable

    in
    > > the
    > > > >balance sheet.
    > > > >
    > > > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > > > >received the USD 10,000 on its due date due to various reasons.
    > > > >ABC decides to specify the 10,000 as Bad Debts in the P & L and

    > releases
    > > the
    > > > >financial statements.
    > > > >
    > > > >
    > > > >A few months later, the buyer decides to pay back the 10,000 that

    they
    > > owed
    > > > >ABC.
    > > > >
    > > > >How does ABC record this in the financial statement (especially the

    > P&L).
    > > > >They have already specified it as Bad Debts in the P&L.
    > > > >How does ABC show this 'unexpected' income.
    > > > >
    > > > >Its easy to put this in the Cash Flow statement as Cash in - but how

    > > about
    > > > >the P & L.
    > > > >
    > > > >
    > > > >Regards
    > > > >
    > > > >
    > > >

    > >
    > >

    >
    >
     
    The Prophet, Bubba Hoshimoto, Jul 29, 2003
    #8
  9. Mulligan

    John Guest

    DGG (generic guy) is correct, he just did not show the original entry
    creating the allowance account which impacts the income statement.


    "The Prophet, Bubba Hoshimoto" <> wrote in message
    > If the allowance method allows for better matching, than how does the

    entry
    > (debiting allowance, crediting A/R) make any sense? Matching is intended

    to
    > match expenses and income, and the entry you've made has no impact on the
    > income statement. The more appropriate entry would have been to debit bad
    > debts expense and credit allowance for bad debts, would it not? That's

    the
    > point of the allowance - to act as a credit against accounts receivable

    and
    > show that not all of it might be collectible.




    "DGG" <> wrote in message
    news:...
    > If the debt was directly written off, that is, no "allowance for bad
    > debts" contra asset acount is used, the original entry would have
    > been:
    >
    > Bad debts expense 10,000
    > Accts Receivable 10,000
    >
    >
    > When payment from XYZ is actually received the reversing entry would
    > be:
    >
    > Cash 10,000
    > Bad debts expense 10,000
    >
    >
    >
    > However, if proper accounting was used and a contra receivable account
    > was in place, the entry would have been
    >
    > Allow for bad debts 10,000
    > Accts Receivable 10,000
    >
    > When the cash was received the entry would be
    >
    > Cash 10,000
    > Allow for bad debts 10,000
    >
    >
    > Keep in mind that with the allowance for bad debts accounts an
    > estimate is made each period for bad debts based on the company
    > history and business judgement. This better "matches" the bad debt to
    > the period in which is actually occurred.
    >
    > DGG
    > "I am not a bigot: I hate everyone, separately, but equally"
    >
    >
    > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > wrote:
    >
    > >Hi,
    > >
    > >Need your help on a basic question on balance sheets and profit and loss
    > >statements.
    > >
    > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    credit
    > >on May 1.
    > >
    > >In the financial statements of ABC, the amount of USD 10,000 is shown as
    > >Sales in the profit and loss statement and also accounts receivable in

    the
    > >balance sheet.
    > >
    > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > >received the USD 10,000 on its due date due to various reasons.
    > >ABC decides to specify the 10,000 as Bad Debts in the P & L and releases

    the
    > >financial statements.
    > >
    > >
    > >A few months later, the buyer decides to pay back the 10,000 that they

    owed
    > >ABC.
    > >
    > >How does ABC record this in the financial statement (especially the P&L).
    > >They have already specified it as Bad Debts in the P&L.
    > >How does ABC show this 'unexpected' income.
    > >
    > >Its easy to put this in the Cash Flow statement as Cash in - but how

    about
    > >the P & L.
    > >
    > >
    > >Regards
    > >
    > >

    >
     
    John, Jul 29, 2003
    #9
  10. "John" <> wrote in message
    news:...
    >
    > DGG (generic guy) is correct, he just did not show the original entry
    > creating the allowance account which impacts the income statement.
    >
    >


    Ok, that's more like it. After thinking about it, I suspected we weren't
    talking about the same thing exactly.
     
    The Prophet, Bubba Hoshimoto, Jul 29, 2003
    #10
  11. Mulligan

    DGG Guest

    Geez, I'm going to print these out and show them to my wife. She
    thinks I'm wrong about EVERYTHING.

    DGG
    "Accounting is 50 percent science, 50% art, and 50% attention to
    detail"
     
    DGG, Jul 29, 2003
    #11
  12. Mulligan

    DGG Guest

    Thank you for this insight. A strong, comprehensive
    credit/collections policy is critical to a company involved in selling
    on credit for many reasons. Mostly because the cycle starts with
    salespeople/marketing.

    I didn't into the policies/thoughts behind this because there isn't
    enough information. As a normal course of business you wouldn't write
    off a receivable that is one day past due. However, it could be that
    the customer is insolvent and there is no reasonable expectation that
    payment will be made. The "various reasons" may be valid enough to
    require the write-off.

    By the way, the credit/collections policy that I wrote for a national,
    publicly traded company is available for a reasonable price. I,
    however, require cash on the barrelhead.

    DGG
    "Stop me before I debit again!!!!"



    On Tue, 29 Jul 2003 09:02:05 -0400, "Paul A. Thomas"
    <> wrote:

    >
    >"Mulligan" <> wrote
    >> Need your help on a basic question on balance
    >> sheets and profit and loss statements.
    >>
    >> Suppose a company ABC sells some equipment
    >> for USD 10,000 on 60 days credit on May 1.
    >>
    >> In the financial statements of ABC, the amount of
    >> USD 10,000 is shown as Sales in the profit and
    >> loss statement and also accounts receivable in the
    >> balance sheet.
    >>
    >> It is June 30 and the closing of the quarterly accounts.
    >> ABC has not received the USD 10,000 on its due
    >> date due to various reasons.

    >
    >Actually, the reasons ARE important. Company policy should be to at least
    >call the company to determine the problem, or if there is just a delay in
    >the mailing of the payment.
    >
    >
    >> ABC decides to specify the 10,000 as Bad Debts in
    >> the P & L and releases the financial statements.

    >
    >Most likely a terrible policy to take as a company, writing off a receivable
    >as "bad debt" when it's one day past due.
    >
    >The others have given your the proper accounting treatment. The company
    >really needs to reexamine it's policy as to when (and most importantly why)
    >they will write off a receivable as a bad debt.
     
    DGG, Jul 29, 2003
    #12
  13. First, I think it is pushing the envelope to be writing it off as a bad debt
    within days of it going over 60.

    Second, as others have posted:

    If you use an Allowance for Bad Debts on the Balance Sheet then you post as
    follows:

    Allowance for Bad Debts 10,000.00
    Accounts Receivable 10,000.00

    Then, at the end of the year, you would offset that:

    Bad Debt Expense 10,000.00
    Allowance for Bad Debts 10,000.00

    Remembering that you would also add to the amounts immediately above any
    other bad debts written off during the year. You would then be
    re-establishing your full Allowance and accounting for the write-offs on the
    P&L. Then you would post the recovery of the funds as a debit to Cash and a
    credit to the Allowance for Bad Debts prior to year-end. This would
    eliminate the need to post to the Expense account barring other defaulting
    amounts.

    If you do NOT use an Allowance for Bad Debts:

    Bad Debt Expense 10,000.00
    Accounts Receivable 10,000.00

    In which case your recovery of the Bad Debt would be posted as either of the
    two following:

    Cash 10,000.00
    Bad Debt Expense 10,000.00

    or

    Cash 10,000.00
    Recovered Bad Debt 10,000.00


    Personally, I have always worked with a company which maintains an Allowance
    for Bad Debts account, so I have always posted each bad debt to the
    Allowance as it happens, then to the expense account at the end of the year.
    Then posted any recovered funds to the Recovered BD account.


    --
    Stephanie Serba, AICIA
    Partner, Durham Business Outsource
    Accounting & Technology
    www.dbo.ca

    REMOVE NOSPAM TO REPLY




    "Mulligan" <> wrote in message
    news:MzIVa.8514$...
    > Hi Stephanie,
    >
    > But how would you reflect it in the P & L.
    >
    > I thought you can only reflect Sales, Cost of Goods, and Operating Expense
    > in the P & L. (apart from EBITDA, Tax, Dividends etc.)
    >
    > Where would this "recovered bad debt" be under?
    >
    > Regards
    >
    >
    >
    > "Stephanie Serba" <> wrote in message
    > news:eek:ACVa.6884$...
    > > Post like this:
    > >
    > > Bank 10,000.00
    > > Recovered Bad Debt 10,000.00
    > >
    > >
    > >
    > > --
    > > Stephanie Serba, AICIA
    > > Partner, Durham Business Outsource
    > > Accounting & Technology
    > > www.dbo.ca
    > >
    > > REMOVE NOSPAM TO REPLY
    > >
    > >
    > >
    > > "Mulligan" <> wrote in message
    > > news:VHoVa.294$...
    > > > Hi,
    > > >
    > > > Need your help on a basic question on balance sheets and profit and

    loss
    > > > statements.
    > > >
    > > > Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    > > credit
    > > > on May 1.
    > > >
    > > > In the financial statements of ABC, the amount of USD 10,000 is shown

    as
    > > > Sales in the profit and loss statement and also accounts receivable in

    > the
    > > > balance sheet.
    > > >
    > > > It is June 30 and the closing of the quarterly accounts. ABC has not
    > > > received the USD 10,000 on its due date due to various reasons.
    > > > ABC decides to specify the 10,000 as Bad Debts in the P & L and

    releases
    > > the
    > > > financial statements.
    > > >
    > > >
    > > > A few months later, the buyer decides to pay back the 10,000 that they

    > > owed
    > > > ABC.
    > > >
    > > > How does ABC record this in the financial statement (especially the

    > P&L).
    > > > They have already specified it as Bad Debts in the P&L.
    > > > How does ABC show this 'unexpected' income.
    > > >
    > > > Its easy to put this in the Cash Flow statement as Cash in - but how

    > about
    > > > the P & L.
    > > >
    > > >
    > > > Regards
    > > >
    > > >
    > > >

    > >
    > >

    >
    >
     
    Stephanie Serba, Jul 30, 2003
    #13
  14. Bad Debt expense is an Operating Expense.

    So in the first period, you debited Bad Debt Expense,
    which is an operating expense.

    In the second period, you credit Bad Debt expense,
    which is an operating expense.

    (Or more properly, it's the correction of an error,
    but let's not even go there)

    But understand that what you are describing is not
    GAAP. That is what everyone here is trying to tell
    you. The GAAP thing to do is to estimate the bad
    debt expense in the period of the sales (eg % of
    revenues) or using a balance sheet approach you
    analyze the A/R aging and you reduce net A/R (A/R +
    allowance, which is a contra-asset) to the Net
    Realizable Value. This is done periodically, say
    annually. Then when you have a specific write-off
    you write-off against the allowance. If the account
    is recovered you restore the receivable through the
    allowance. The only entries that affect the P & L
    are your periodic adjustments to the allowance.


    "Mulligan" <> wrote in message
    news:MzIVa.8514$...
    > Hi Stephanie,
    >
    > But how would you reflect it in the P & L.
    >
    > I thought you can only reflect Sales, Cost of Goods, and Operating Expense
    > in the P & L. (apart from EBITDA, Tax, Dividends etc.)
    >
    > Where would this "recovered bad debt" be under?
    >
    > Regards
    >
    >
    >




    ---
    Outgoing mail is certified Virus Free.
    Checked by AVG anti-virus system (http://www.grisoft.com).
    Version: 6.0.501 / Virus Database: 299 - Release Date: 07/14/2003
     
    Sarah Berel-Harrop, Jul 30, 2003
    #14
  15. I realize this is open to misconception. At the end
    of the day, the net A/R should be stated at Net
    realizable value, whether you use the A/R approach
    or the % of sales approach. Naturally, the allowance,
    and hence the Net A/R, is an estimate.

    "Sarah Berel-Harrop" <> wrote in message
    news:3f27c81b$0$54845$-pc.org...
    > Bad Debt expense is an Operating Expense.
    >
    > So in the first period, you debited Bad Debt Expense,
    > which is an operating expense.
    >
    > In the second period, you credit Bad Debt expense,
    > which is an operating expense.
    >
    > (Or more properly, it's the correction of an error,
    > but let's not even go there)
    >
    > But understand that what you are describing is not
    > GAAP. That is what everyone here is trying to tell
    > you. The GAAP thing to do is to estimate the bad
    > debt expense in the period of the sales (eg % of
    > revenues) or using a balance sheet approach you
    > analyze the A/R aging and you reduce net A/R (A/R +
    > allowance, which is a contra-asset) to the Net
    > Realizable Value. This is done periodically, say
    > annually. Then when you have a specific write-off
    > you write-off against the allowance. If the account
    > is recovered you restore the receivable through the
    > allowance. The only entries that affect the P & L
    > are your periodic adjustments to the allowance.
    >
    >
    > "Mulligan" <> wrote in message
    > news:MzIVa.8514$...
    > > Hi Stephanie,
    > >
    > > But how would you reflect it in the P & L.
    > >
    > > I thought you can only reflect Sales, Cost of Goods, and Operating

    Expense
    > > in the P & L. (apart from EBITDA, Tax, Dividends etc.)
    > >
    > > Where would this "recovered bad debt" be under?
    > >
    > > Regards
    > >
    > >
    > >

    >
    >
    >
    > ---
    > Outgoing mail is certified Virus Free.
    > Checked by AVG anti-virus system (http://www.grisoft.com).
    > Version: 6.0.501 / Virus Database: 299 - Release Date: 07/14/2003
    >
    >



    ---
    Outgoing mail is certified Virus Free.
    Checked by AVG anti-virus system (http://www.grisoft.com).
    Version: 6.0.501 / Virus Database: 299 - Release Date: 07/14/2003
     
    Sarah Berel-Harrop, Jul 30, 2003
    #15
  16. Mulligan

    No One Guest

    Bad Debts expense is not a liability. It is an operating expense and goes on
    the income statement.

    Accounts Receivable is an asset and goes on the Balance Sheet.

    The
    "JD" <> wrote in message
    news:lKvVa.27703$zd4.9605@lakeread02...
    > You obviously have no knowledge of financial accounting. This is not about
    > the income statement. This is about the balance sheet. Assets = Total
    > Liability and Equity. Thus the bad debts expense is a liability and AR is

    an
    > asset.
    > What DGG wrote is correct.
    >
    > "The Prophet, Bubba Hoshimoto" <> wrote in message
    > news:...
    > > If the allowance method allows for better matching, than how does the

    > entry
    > > (debiting allowance, crediting A/R) make any sense? Matching is

    intended
    > to
    > > match expenses and income, and the entry you've made has no impact on

    the
    > > income statement. The more appropriate entry would have been to debit

    bad
    > > debts expense and credit allowance for bad debts, would it not? That's

    > the
    > > point of the allowance - to act as a credit against accounts receivable

    > and
    > > show that not all of it might be collectible.
    > >
    > > "DGG" <> wrote in message
    > > news:...
    > > > If the debt was directly written off, that is, no "allowance for bad
    > > > debts" contra asset acount is used, the original entry would have
    > > > been:
    > > >
    > > > Bad debts expense 10,000
    > > > Accts Receivable 10,000
    > > >
    > > >
    > > > When payment from XYZ is actually received the reversing entry would
    > > > be:
    > > >
    > > > Cash 10,000
    > > > Bad debts expense 10,000
    > > >
    > > >
    > > >
    > > > However, if proper accounting was used and a contra receivable account
    > > > was in place, the entry would have been
    > > >
    > > > Allow for bad debts 10,000
    > > > Accts Receivable 10,000
    > > >
    > > > When the cash was received the entry would be
    > > >
    > > > Cash 10,000
    > > > Allow for bad debts 10,000
    > > >
    > > >
    > > > Keep in mind that with the allowance for bad debts accounts an
    > > > estimate is made each period for bad debts based on the company
    > > > history and business judgement. This better "matches" the bad debt to
    > > > the period in which is actually occurred.
    > > >
    > > > DGG
    > > > "I am not a bigot: I hate everyone, separately, but equally"
    > > >
    > > >
    > > > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > > > wrote:
    > > >
    > > > >Hi,
    > > > >
    > > > >Need your help on a basic question on balance sheets and profit and

    > loss
    > > > >statements.
    > > > >
    > > > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    > > credit
    > > > >on May 1.
    > > > >
    > > > >In the financial statements of ABC, the amount of USD 10,000 is shown

    > as
    > > > >Sales in the profit and loss statement and also accounts receivable

    in
    > > the
    > > > >balance sheet.
    > > > >
    > > > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > > > >received the USD 10,000 on its due date due to various reasons.
    > > > >ABC decides to specify the 10,000 as Bad Debts in the P & L and

    > releases
    > > the
    > > > >financial statements.
    > > > >
    > > > >
    > > > >A few months later, the buyer decides to pay back the 10,000 that

    they
    > > owed
    > > > >ABC.
    > > > >
    > > > >How does ABC record this in the financial statement (especially the

    > P&L).
    > > > >They have already specified it as Bad Debts in the P&L.
    > > > >How does ABC show this 'unexpected' income.
    > > > >
    > > > >Its easy to put this in the Cash Flow statement as Cash in - but how

    > > about
    > > > >the P & L.
    > > > >
    > > > >
    > > > >Regards
    > > > >
    > > > >
    > > >

    > >
    > >

    >
    >
     
    No One, Aug 9, 2003
    #16
  17. Re: You're wrong.

    "No One" <> wrote in message
    news:ZQ4Za.219$...
    > You're wrong.


    Wrong is not the right word for it. You're
    articulating the textbook solution. Sloppy
    is a better word.

    Your ledger and DGG's ledger are identical
    at the end. He's skipping some entries to
    the subsidiary ledger. (reinstatement of the
    A/R, recording of the receipt). If one's company
    doesn't actually need this information, one
    can skip these steps. It is sloppy though because
    the customer's records are not updated. The
    A/R reflects the customer as unpaid, and a write-
    off, which is not correct. But say you are auditing
    a company and you see this. You ask and you
    get the answer, say oh, ok, that is not such a
    good idea, but you don't make them re-do it.

    >
    > Your adjusting entry is:
    >
    > Uncollectible Accts Expense $debit
    > Allowance for Doubtful Accounts $credit
    >
    > This correctly recognizes your expense and your allowance, which is an
    > asset.
    > -------------------------------------------------
    > When you write off an uncollectible account:
    >
    > Allowance for Doubtful Accounts $debit
    > Accounts Recievable - whoever $credit
    >
    > This removes the accounts receivable and reduces your allowance account
    > since you've just used it.
    > -------------------------------------------------------
    > If you receive payment eventually, you can reinstate the accounts
    > receivable:
    >
    > Accounts Receivable - whoever $debit
    > Allowance for Doubtful Accounts $credit
    >
    > This increases your accounts receivable and increases your allowance

    account
    > again.
    > --------------------------------------------------------
    > Then simply record the payment to close the Accounts Receivable.
    >
    > Cash $debit
    > Accounts Receivable - whoever $credit
    > -------------------------------------------------------
    >
    > "DGG" <> wrote in message
    > news:...
    > > If the debt was directly written off, that is, no "allowance for bad
    > > debts" contra asset acount is used, the original entry would have
    > > been:
    > >
    > > Bad debts expense 10,000
    > > Accts Receivable 10,000
    > >
    > >
    > > When payment from XYZ is actually received the reversing entry would
    > > be:
    > >
    > > Cash 10,000
    > > Bad debts expense 10,000
    > >
    > >
    > >
    > > However, if proper accounting was used and a contra receivable account
    > > was in place, the entry would have been
    > >
    > > Allow for bad debts 10,000
    > > Accts Receivable 10,000
    > >
    > > When the cash was received the entry would be
    > >
    > > Cash 10,000
    > > Allow for bad debts 10,000
    > >
    > >
    > > Keep in mind that with the allowance for bad debts accounts an
    > > estimate is made each period for bad debts based on the company
    > > history and business judgement. This better "matches" the bad debt to
    > > the period in which is actually occurred.
    > >
    > > DGG
    > > "I am not a bigot: I hate everyone, separately, but equally"
    > >
    > >
    > > On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > > wrote:
    > >
    > > >Hi,
    > > >
    > > >Need your help on a basic question on balance sheets and profit and

    loss
    > > >statements.
    > > >
    > > >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    > credit
    > > >on May 1.
    > > >
    > > >In the financial statements of ABC, the amount of USD 10,000 is shown

    as
    > > >Sales in the profit and loss statement and also accounts receivable in

    > the
    > > >balance sheet.
    > > >
    > > >It is June 30 and the closing of the quarterly accounts. ABC has not
    > > >received the USD 10,000 on its due date due to various reasons.
    > > >ABC decides to specify the 10,000 as Bad Debts in the P & L and

    releases
    > the
    > > >financial statements.
    > > >
    > > >
    > > >A few months later, the buyer decides to pay back the 10,000 that they

    > owed
    > > >ABC.
    > > >
    > > >How does ABC record this in the financial statement (especially the

    P&L).
    > > >They have already specified it as Bad Debts in the P&L.
    > > >How does ABC show this 'unexpected' income.
    > > >
    > > >Its easy to put this in the Cash Flow statement as Cash in - but how

    > about
    > > >the P & L.
    > > >
    > > >
    > > >Regards
    > > >
    > > >

    > >

    >
    >



    ---
    Outgoing mail is certified Virus Free.
    Checked by AVG anti-virus system (http://www.grisoft.com).
    Version: 6.0.505 / Virus Database: 302 - Release Date: 07/30/2003
     
    Sarah Berel-Harrop, Aug 9, 2003
    #17
  18. Re: You're wrong.

    "No One" <> wrote
    > You're wrong.



    If no one said I'm wrong, does that mean I'm right?


    --
    Paul A. Thomas, CPA
    Athens, Georgia

    WARNING: This post may contain violent
    punctuation, explicit grammatical errors,
    and a shocking ending with a preposition.
     
    Paul A. Thomas, Aug 9, 2003
    #18
  19. Mulligan

    Sally Choise Guest

    Re: You're wrong.

    If you don't have any 'real' accounting experience (only book
    knowledge) don't make statements like "you're wrong".

    When and if you complete your studies and if you look back at your
    statements, you'll come to the same conclusion as others "you're an
    idiot for saying you're wrong".

    Accounting is a science and an art. The more you understand the
    client and the nature of transactions, the more you'll be able to come
    up with simple, yet intuitve answers, to their complex situations.





    On Sat, 09 Aug 2003 11:23:37 GMT, "No One" <> wrote:

    >You're wrong.
    >
    >Your adjusting entry is:
    >
    >Uncollectible Accts Expense $debit
    > Allowance for Doubtful Accounts $credit
    >
    >This correctly recognizes your expense and your allowance, which is an
    >asset.
    >-------------------------------------------------
    >When you write off an uncollectible account:
    >
    >Allowance for Doubtful Accounts $debit
    > Accounts Recievable - whoever $credit
    >
    >This removes the accounts receivable and reduces your allowance account
    >since you've just used it.
    >-------------------------------------------------------
    >If you receive payment eventually, you can reinstate the accounts
    >receivable:
    >
    >Accounts Receivable - whoever $debit
    > Allowance for Doubtful Accounts $credit
    >
    >This increases your accounts receivable and increases your allowance account
    >again.
    >--------------------------------------------------------
    >Then simply record the payment to close the Accounts Receivable.
    >
    > Cash $debit
    > Accounts Receivable - whoever $credit
    >-------------------------------------------------------
    >
    >"DGG" <> wrote in message
    >news:...
    >> If the debt was directly written off, that is, no "allowance for bad
    >> debts" contra asset acount is used, the original entry would have
    >> been:
    >>
    >> Bad debts expense 10,000
    >> Accts Receivable 10,000
    >>
    >>
    >> When payment from XYZ is actually received the reversing entry would
    >> be:
    >>
    >> Cash 10,000
    >> Bad debts expense 10,000
    >>
    >>
    >>
    >> However, if proper accounting was used and a contra receivable account
    >> was in place, the entry would have been
    >>
    >> Allow for bad debts 10,000
    >> Accts Receivable 10,000
    >>
    >> When the cash was received the entry would be
    >>
    >> Cash 10,000
    >> Allow for bad debts 10,000
    >>
    >>
    >> Keep in mind that with the allowance for bad debts accounts an
    >> estimate is made each period for bad debts based on the company
    >> history and business judgement. This better "matches" the bad debt to
    >> the period in which is actually occurred.
    >>
    >> DGG
    >> "I am not a bigot: I hate everyone, separately, but equally"
    >>
    >>
    >> On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    >> wrote:
    >>
    >> >Hi,
    >> >
    >> >Need your help on a basic question on balance sheets and profit and loss
    >> >statements.
    >> >
    >> >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    >credit
    >> >on May 1.
    >> >
    >> >In the financial statements of ABC, the amount of USD 10,000 is shown as
    >> >Sales in the profit and loss statement and also accounts receivable in

    >the
    >> >balance sheet.
    >> >
    >> >It is June 30 and the closing of the quarterly accounts. ABC has not
    >> >received the USD 10,000 on its due date due to various reasons.
    >> >ABC decides to specify the 10,000 as Bad Debts in the P & L and releases

    >the
    >> >financial statements.
    >> >
    >> >
    >> >A few months later, the buyer decides to pay back the 10,000 that they

    >owed
    >> >ABC.
    >> >
    >> >How does ABC record this in the financial statement (especially the P&L).
    >> >They have already specified it as Bad Debts in the P&L.
    >> >How does ABC show this 'unexpected' income.
    >> >
    >> >Its easy to put this in the Cash Flow statement as Cash in - but how

    >about
    >> >the P & L.
    >> >
    >> >
    >> >Regards
    >> >
    >> >

    >>

    >
     
    Sally Choise, Aug 9, 2003
    #19
  20. Mulligan

    DrumDesigner Guest

    Re: You're wrong.

    Sally,
    I totally agree with you. It's par for the course with students (or
    those beginning their study of accounting) who have new knowledge. In study
    groups, I've seen students aggressively argue a position as far as the right
    accounting treatment of a given transaction. I find it interesting that the
    group learns from each other and finds the ultimate right answer (well,
    according to GAAP anyway). I do believe accounting is both a science and an
    art form. Once the requisite knowledge is obtained, we realize that there
    are "exceptions" to those basic principles we all learned that may pertain
    to an individual business or business situation. Obviously, concepts such as
    materiality and representational faithfulness have a lot to do with some
    choices, which could be a reason why someone would pick the direct write-off
    method versus the allowance method. Some small business use the direct
    write-off method simply because the amount to be written off is below the
    threshold of materiality and is reasonably infrequent. So even though that
    method is not considered GAAP, there are situations where it is acceptable
    to use it. The strange thing with "book" learning is that we learn the basic
    principles and underlying framework. However, in the real world, things can
    be adjusted, changed, or altered to fit the clients accounting needs. Of
    course, this is all within reasonable parameters of acceptability!
    Drum

    "Sally Choise" <> wrote in message
    news:...
    > If you don't have any 'real' accounting experience (only book
    > knowledge) don't make statements like "you're wrong".
    >
    > When and if you complete your studies and if you look back at your
    > statements, you'll come to the same conclusion as others "you're an
    > idiot for saying you're wrong".
    >
    > Accounting is a science and an art. The more you understand the
    > client and the nature of transactions, the more you'll be able to come
    > up with simple, yet intuitve answers, to their complex situations.
    >
    >
    >
    >
    >
    > On Sat, 09 Aug 2003 11:23:37 GMT, "No One" <> wrote:
    >
    > >You're wrong.
    > >
    > >Your adjusting entry is:
    > >
    > >Uncollectible Accts Expense $debit
    > > Allowance for Doubtful Accounts $credit
    > >
    > >This correctly recognizes your expense and your allowance, which is an
    > >asset.
    > >-------------------------------------------------
    > >When you write off an uncollectible account:
    > >
    > >Allowance for Doubtful Accounts $debit
    > > Accounts Recievable - whoever $credit
    > >
    > >This removes the accounts receivable and reduces your allowance account
    > >since you've just used it.
    > >-------------------------------------------------------
    > >If you receive payment eventually, you can reinstate the accounts
    > >receivable:
    > >
    > >Accounts Receivable - whoever $debit
    > > Allowance for Doubtful Accounts $credit
    > >
    > >This increases your accounts receivable and increases your allowance

    account
    > >again.
    > >--------------------------------------------------------
    > >Then simply record the payment to close the Accounts Receivable.
    > >
    > > Cash $debit
    > > Accounts Receivable - whoever $credit
    > >-------------------------------------------------------
    > >
    > >"DGG" <> wrote in message
    > >news:...
    > >> If the debt was directly written off, that is, no "allowance for bad
    > >> debts" contra asset acount is used, the original entry would have
    > >> been:
    > >>
    > >> Bad debts expense 10,000
    > >> Accts Receivable 10,000
    > >>
    > >>
    > >> When payment from XYZ is actually received the reversing entry would
    > >> be:
    > >>
    > >> Cash 10,000
    > >> Bad debts expense 10,000
    > >>
    > >>
    > >>
    > >> However, if proper accounting was used and a contra receivable account
    > >> was in place, the entry would have been
    > >>
    > >> Allow for bad debts 10,000
    > >> Accts Receivable 10,000
    > >>
    > >> When the cash was received the entry would be
    > >>
    > >> Cash 10,000
    > >> Allow for bad debts 10,000
    > >>
    > >>
    > >> Keep in mind that with the allowance for bad debts accounts an
    > >> estimate is made each period for bad debts based on the company
    > >> history and business judgement. This better "matches" the bad debt to
    > >> the period in which is actually occurred.
    > >>
    > >> DGG
    > >> "I am not a bigot: I hate everyone, separately, but equally"
    > >>
    > >>
    > >> On Tue, 29 Jul 2003 06:43:01 GMT, "Mulligan" <>
    > >> wrote:
    > >>
    > >> >Hi,
    > >> >
    > >> >Need your help on a basic question on balance sheets and profit and

    loss
    > >> >statements.
    > >> >
    > >> >Suppose a company ABC sells some equipment for USD 10,000 on 60 days

    > >credit
    > >> >on May 1.
    > >> >
    > >> >In the financial statements of ABC, the amount of USD 10,000 is shown

    as
    > >> >Sales in the profit and loss statement and also accounts receivable in

    > >the
    > >> >balance sheet.
    > >> >
    > >> >It is June 30 and the closing of the quarterly accounts. ABC has not
    > >> >received the USD 10,000 on its due date due to various reasons.
    > >> >ABC decides to specify the 10,000 as Bad Debts in the P & L and

    releases
    > >the
    > >> >financial statements.
    > >> >
    > >> >
    > >> >A few months later, the buyer decides to pay back the 10,000 that they

    > >owed
    > >> >ABC.
    > >> >
    > >> >How does ABC record this in the financial statement (especially the

    P&L).
    > >> >They have already specified it as Bad Debts in the P&L.
    > >> >How does ABC show this 'unexpected' income.
    > >> >
    > >> >Its easy to put this in the Cash Flow statement as Cash in - but how

    > >about
    > >> >the P & L.
    > >> >
    > >> >
    > >> >Regards
    > >> >
    > >> >
    > >>

    > >

    >
     
    DrumDesigner, Aug 9, 2003
    #20
    1. Advertisements

Want to reply to this thread or ask your own question?

It takes just 2 minutes to sign up (and it's free!). Just click the sign up button to choose a username and then you can ask your own questions on the forum.
Similar Threads
  1. Ronald Raygun

    Re: Bad Debts and Profit & Loss Statement

    Ronald Raygun, Jul 29, 2003, in forum: UK Accountancy
    Replies:
    0
    Views:
    919
    Ronald Raygun
    Jul 29, 2003
  2. wfb
    Replies:
    3
    Views:
    1,502
    angelleye
    Mar 5, 2013
  3. Laura

    Re: Bad debts warning message

    Laura, Nov 16, 2008, in forum: Quickbooks
    Replies:
    2
    Views:
    380
    Haskel LaPort
    Nov 17, 2008
  4. Friendly person
    Replies:
    15
    Views:
    665
    jmlieder
    Dec 27, 2006
  5. Crowley
    Replies:
    2
    Views:
    186
    Tumbleweed
    Feb 22, 2006
Loading...

Share This Page