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Debtor balance

This query is : Resolved 
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(Querist)
08 June 2015 a party (debtor) balance has stand in my books of accounts since no. of years but that party now closed their firm and still balance stood in my books. now i want to remove that balance from my books . pls suggest me how it is possible and what will be the correct Accounting treatment.
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Amol S Joglekar

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Amol S Joglekar (Expert)
08 June 2015 Debit Bad Account
Credit Party Account.

Prima facie, it looks like the debt is irreoverable so you can move it to bad debts.
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Rupesh Jain

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Rupesh Jain (Expert)
08 June 2015 bad debts A/c
to Debtors a/c
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CS,CA F,Numrologi TusharSampat

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CS,CA F,Numrologi TusharSampat (Expert)
08 June 2015 agreed with above views.............
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