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  1. #1
    vil is offline VIP Member
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    Default climbing on the wellness bandwagon/accounts receivable/ insolvency/in a quandary

    Dear teachers,

    Would you be kind enough to tell me whether I am right with my interpretation of the expression in bold in the following sentences?

    1. Congress is climbing onto the wellness bandwagon, too. Senator Tom Harkin, the Iowa Democrat who is a leader of the Congressional health reform movement, recently proposed giving tax incentives to companies that offer comprehensive wellness programs to their employees.

    climb on the bandwagon = join a cause or movement

    wellness = the condition of good physical and mental health, especially when maintained by proper diet, exercise, and habits.

    2. Here are their accounts receivable from loss due to the insolvency of the debtors.

    accounts receivable = money owed by customers (individuals or corporations) to another entity in exchange for goods or services that have been delivered or used, but not yet paid for.

    If a company has receivables, this means it has made a sale but has yet to collect the money from the purchaser. Most companies operate by allowing some portion of their sales to be on credit. These type of sales are usually made to frequent or special customers who are invoiced periodically, and allows them to avoid the hassle of physically making payments as each transaction occurs. In other words, this is when a customer gives a company an IOU (I owe you) for goods or services already received or rendered.

    insolvency = inability to pay debts as they mature, or as obligations become due and payable. A person may still have an excess of assets over liabilities, but be insolvent if unable to convert assets into cash to meet financial obligations.

    3. Here is an accounts receivable account for goods and services sold.

    accounts receivable account = debit or credit balance account

    4. He is in a quandary.

    quandary = a quandary is a state where you are uncertain of the option you are going to choose; also known as a dilemma.

    quandary = bewilderment, confusion, difficulty, dilemma, embarrassment, fix, hole, impasse, mes, perplexity, predicament, problem

    Thank you for your efforts.

    Regards,

    V.

  2. #2
    Barb_D's Avatar
    Barb_D is offline Moderator
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    Default Re: climbing on the wellness bandwagon/accounts receivable/ insolvency/in a quandary

    Yes, you're right, but I myself don't understand the A/R (account receivable) for loss due to involvency. That seems like a write-off - they will never get that money. So why it's still listed as a receivable when they won't get the money is confusing to me.

    However, accounting confusion (on my part) aside, your grasp of this is just fine!

  3. #3
    vil is offline VIP Member
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    Default Re: climbing on the wellness bandwagon/accounts receivable/ insolvency/in a quandary

    Hi Barb_D,

    Thank you for your backing.

    In regard to your uncertainty about the probability of the phrase “account receivable for loss due to the insolvency of the debtors” I think that there are no two ways about it. This is an insinuating sentence, which hints at “a hypothetical account receivable “. I guess every firm have to strike it’s balance of trade as well as to know their all profit and loss accounts

    Regards,

    V.

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