Bad debts
This query is : Open
Anwar Shaikh
(Querist)
26 April 2013
Dear All,
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
CA Ayush Agarwal
(Expert)
26 April 2013
Yes, For Claiming Baddebts Earlier You should Credit it to P&L Account.
(Except to Finance Company)For Those Principle Amt allowd as Bad debts.
(Except to Finance Company)For Those Principle Amt allowd as Bad debts.
Anwar Shaikh
(Querist)
17 June 2013
Dear All,
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
If company gives Deposit to Land Lord, Or company gives advance to creditors but does not recover it.
(Entry : Landlord A/c------Dr
To Bank
Can company claim this as Bad Debts ?
or It is covered under any other head ?
(Because I think for bad debts, debts should be out of credit to P&L)
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