Adjustment entry for loan
This query is : Resolved
06 February 2012
please anyone help me for adjustment entry:
we have given unsecured loan to someone & have not received back. so should it go as bad debts account in accounting entry?
we have given unsecured loan to someone & have not received back. so should it go as bad debts account in accounting entry?
07 February 2012
It is bad debts only. but if company involving lending business it is treated as business nature, otherwise it is bad debt but not considered as business expenses or loss
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