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Entry for provision for bad debts

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(Querist)
22 April 2014 Is the below entry correct, when there is a provision created for Debtors P&L a\c......DR To Provision for Debtors (Being provision made) since Provision for Debtors is a contra asset, it will be maintained in liability side.
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Ramesh

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Ramesh (Expert)
22 April 2014 Dear Naveen,
Yes entry is correct and the amount is deducted from debtors in financials as below:

Trade receivables
(Unsecured considered good, unless otherwise stated)
Outstanding for a period exceeding six months from the date they are due for payment
- considered good xxx
- considered doubtful xxx
Outstanding for a period less then six months from the date they are due for payment
- considered good xxx
- considered doubtful xxx
Less: Prov. for doubtful debts xxx
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Rupesh Jain

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Rupesh Jain (Expert)
22 April 2014 yes reply give by Ramesh is correct

our provision you may pass to set the entry

provision for doubtful debt a/c dr.
to Debtors a/c

with amount of write off.
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