Basic query in accounting
This query is : Resolved
pavankumar
(Querist)
04 October 2013
Please tell me whether below entries are correct?
Estimating Bad debt based on Receivables
Bad Debt a/c Dr
To provision for doubtful Debt a/c
P&L a/c Dr
To Bad Debt a/c
Writing off account receivable
Provision for Doubtful Debt a/c Dr
To Debtors a/c
Recovery of Account receivable write off
Debtor A/c Dr
To provision for Doubtful Debt a/c
Cash a/c
To debtor a/c
Provision for Doubtful Debt a/c Dr
To P&L a/c
I will be very much thankful to you.
Estimating Bad debt based on Receivables
Bad Debt a/c Dr
To provision for doubtful Debt a/c
P&L a/c Dr
To Bad Debt a/c
Writing off account receivable
Provision for Doubtful Debt a/c Dr
To Debtors a/c
Recovery of Account receivable write off
Debtor A/c Dr
To provision for Doubtful Debt a/c
Cash a/c
To debtor a/c
Provision for Doubtful Debt a/c Dr
To P&L a/c
I will be very much thankful to you.
05 October 2013
Hi
It is correct!
Thanks//VaibhavJ
It is correct!
Thanks//VaibhavJ
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