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
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