Please let me know the entries for "Provision for bad debt" & "Bad debt" for current & next finantial year.
Thank you
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Accounting entry of provision for bad debt
Replies (1)
(1)Current year:-
creating provision:
* P & L a/c Dr.
To provision for bad debts
(2) next year
writing off bad debts
* Bad debt a/c Dr.
To Debtors
* provision for bad debt a/c Dr.
To Bad debt
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