How to make journal entry of write of Trade receivable or trade payable
This query is : Resolved
25 January 2025
How to make journal entry of write off of Trade receivable or trade payable
if Trade receivable and Trade payable for Rs. 1,18,000 and 1,18,000 each respectively. please reply.
if Trade receivable and Trade payable for Rs. 1,18,000 and 1,18,000 each respectively. please reply.
25 January 2025
Bad debts write off dr 1,18,000
To trade receivable cr 1,18,000
(Bad debts written off)
Trade payable dr 1,18,000
To other income cr 1,18,000
(Trade payable not paid treated as other income)
To trade receivable cr 1,18,000
(Bad debts written off)
Trade payable dr 1,18,000
To other income cr 1,18,000
(Trade payable not paid treated as other income)
25 January 2025
sir,
Trade receivable and trade payable inclusive GST amount,
in the above mentioned amount Rs, 18,000 GST in the both case,
whether GST should be revised in the both Case ie.
RS. 18,000 should be credited in the case of write off Trade payable
Rs, 18,000 should be debited in the case of write off Trade Receivable.
please reply
whether should be rev
Trade receivable and trade payable inclusive GST amount,
in the above mentioned amount Rs, 18,000 GST in the both case,
whether GST should be revised in the both Case ie.
RS. 18,000 should be credited in the case of write off Trade payable
Rs, 18,000 should be debited in the case of write off Trade Receivable.
please reply
whether should be rev
25 January 2025
In case of both GST need not be reversed.
Only ITC claimed on trade payable is to be reversed.
Only ITC claimed on trade payable is to be reversed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- CG Tax On residential property
- Applicable TDS for Purchase of Flat from NRI
- Claiming exemption of perquisite for employee-owned car under New Tax Regime in ITR-2
- Under construction property in ITR
- Gift of mutual fund units to daughter
- Not able to file ITR
- Upload Level ValidationITR3Category of Defect B/D
- NRI ITR2 account in 2025-26 ,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,,.
- Building tax payment deduction in rental Income
- PPF interest-As Exempt Income disclosure
- PF Taxable Income
- Clarification on Tax Audit Applicability and Reporting of F&O Transactions in ITR-3
- Interest credited in FY2025-2026 & TDS therein by EPFO does not reflect in AIS or Form 26AS
- 44ad eligble money lending interest
- Delisted shares sold in off market/ Rebate u/s87A
- In Exports Sales HSN details where to fill
- Opting out" of regime provided under subsection (1A) of Section 115BAC but Form 10IEA is not filed.
- Difference in tax comparison report
- Gst invoice numbering and delivery challan numbering
- Sales amount in Gstr1
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
