my client senr rs 5 laksh with his employee during f y 06.07 for purchase og goods .and the employee went abconding. this was shown in the books as receivavable from him.
now the police have arrested him and said that the amount is irrecoverable. the business was closed during the f y 07-08
how can he set off this loss
how to adjust this entry
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CAclubindia
set off of loss