Bad debt reserve

November 9, 2020

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Q. Is anyone increasing their bad debt reserve due to COVID and an increase in slow pay? A. (Answered by the IOFM Advisory Panel) ----- Overall our aging/DSO is back to pre-COVID levels, but we did increase our reserve to account for some anticipated customer bankruptcies. ----- Fortunately, we have not incurred any bad debt through this pandemic. Although we have a few of the same customers that continue to slow pay, we have offered temporary payment plans. This allows customers a choice to…

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