Jounal entry for provision for doubt ful debts
This query is : Resolved
03 July 2014
if provision for doubtful debts appearing in trial balance in the first year, what is the journal entry for written in the journal.
03 July 2014
it is recoverable then reverse the entry.
if not recoverable then written off in profit & loss a/c
if not recoverable then written off in profit & loss a/c
03 July 2014
Dear Sir,
We have already debited that amount in the 1st yr while making provision.
now at the time of considering as bed debts again will debit the same amount ????
We have already debited that amount in the 1st yr while making provision.
now at the time of considering as bed debts again will debit the same amount ????
05 July 2014
you are showing in balance sheet then now you make tfr entry from provision to exp. a/c
now entry made with the bad amounts
bad debts a/c
to provision for bad debt a/c
now entry made with the bad amounts
bad debts a/c
to provision for bad debt a/c
07 July 2014
Bed debts will hit to my P/L A/c debit side. so my question is i have already debited that amt as RDD in previous yr. So the same amt again debited in P&L
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