I have a query about this question below.
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Querist : Anonymous
Querist :
Anonymous
(Querist)
22 May 2017
Trade Receivables on 31st March, 2010 are Rs.1,05,000.Further bad debts are Rs 5,000Old provision for bad debts is Rs.4,000.Provision for doubtful debts is to be made on Trade Receivables 10 %What will be the amount of bad debts charged in Profit and Loss A/c after considering provisions for bad debts?
Expert : Anonymous
Expert :
Anonymous
(Expert)
22 May 2017
Bad debts to be charge to P&L would be 5k only. provision for Bad debt will be 10% of current year sales. last year provision plus current year will be provision for bad debts
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