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Bad debt recovered is credited

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Atharv Sankliya

1359 Points Posted on 31 October 2022

bad debt recovered is credited to profit and loss a/c of current yr or credited to p&l adjustment a/c?

Replies (3)

Quick Summary

This discussion explores the correct accounting treatment for recovered bad debts. Participants debate whether the recovered amount should be credited to the current year's profit and loss account or a separate P&L adjustment account. One suggestion is to credit it to the provision for bad and doubtful debts account.

Yasaswi Gomes new

Finance

4592 Points Posted on 31 October 2022

Once again i make final entries. Monthly income statements also have the same accounting heads. Tax wise you need to pay it back and im not sure what the entries are. This is what i complained about governance. These people lower caste and poor people ruined all of making thing things complex for professionals. The CEO'S look for cheap factors of production and everything goes haywire. The indian p olice are also b.com and indian politicians are failed candidates looking for public money