Provision ans writing off of debtors
This query is : Resolved
04 November 2008
Please let me know
:
1)a)what entries are passed when provision is made for debtors
b)how they are reflected in final statement.
2)a)what entries are passed when debt written off after making provision
b)how they are reflected in final statments of accounts.
Please answer all questions separately.
Thanks
:
1)a)what entries are passed when provision is made for debtors
b)how they are reflected in final statement.
2)a)what entries are passed when debt written off after making provision
b)how they are reflected in final statments of accounts.
Please answer all questions separately.
Thanks
04 November 2008
Profit and loss a/c DR.
To Provision for doubtful debts
(provision made)
Provision for doubtful debts Dr
To Debtors
(actual write off)
Profit and loss a/c DR
(bad debts write off)
To Profit & loss a/c
(reversal opf provision
To Provision for doubtful debts
(provision made)
Provision for doubtful debts Dr
To Debtors
(actual write off)
Profit and loss a/c DR
(bad debts write off)
To Profit & loss a/c
(reversal opf provision
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