Provision for bad debts
This query is : Resolved
Querist : Anonymous
Querist :
Anonymous
(Querist)
06 October 2013
respected sir,
What journal entries are passed for:
1. provision for bad debts?
2. bad debts recovered?
What journal entries are passed for:
1. provision for bad debts?
2. bad debts recovered?
06 October 2013
First of pass the journal entry of actual bad
debts .
Entry for recording actual bad debt which did
not record in books of business
1. Bad debts account Dr. xxxxx
To Sundry Debtors Account xxxxxx
Entry for transferring bad debts to provision for
bad debts Account
2. Provision for bad debts account Dr. xxxxxx
To Bad Debts account xxxxx
Transfer of provision for bad debts account to
profit and loss account
3. Profit and loss account Dr. xxxxxx
To Provision for bad debts account xxxxx
debts .
Entry for recording actual bad debt which did
not record in books of business
1. Bad debts account Dr. xxxxx
To Sundry Debtors Account xxxxxx
Entry for transferring bad debts to provision for
bad debts Account
2. Provision for bad debts account Dr. xxxxxx
To Bad Debts account xxxxx
Transfer of provision for bad debts account to
profit and loss account
3. Profit and loss account Dr. xxxxxx
To Provision for bad debts account xxxxx
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
- Tax on Deemed Capital Gain
- Type of Capital Gain
- F & O PROFIT REPORTING FOR AY 2026-27
- Regarding ITR filing with more value than showing in AIS/TIS
- Exiting partner in partnership firm in gst portal
- TDS _Long term Capital Gain ref.sec 214 Table 2
- NRI INSURANCE ADVISOR
- Traces submitting correction statement error
- Average Cost Of High Quality Diamonds
- Taxability of credit in canara bank ET & T section (NRO)
- Can a single LLP in India legally operate multiple unrelated businesses (Travel, Cloud Kitchen, Ecom
- Housing Society-ITR5
- TDS on Rent received on redevelopment of building
- Indian IT Portal issue in computing tax as per UK-India DTAA
- Capital Gains on sale of residential flat
- Upload Level ValidationITR3Category of Defect B/D
- 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
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
