while creating a bad debt provision entry it will be like this
provision for bad debt dr
to debtor
provision for bad debt will get debited in p&l and the same will get deducted from debtors in balance sheel
then how is closing provision for debtors comes?
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Bad debt provision doubt
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Quick Summary
Text from your Question - provision for bad debt will get debited in p&l
Journal entry
Dr. Profit & Loss A/c
Cr. Provision for bad debts
Provision closed by crediting
What is opening provision shown in credit side of trial balance?
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