I have 500000 rs as amount shown under loans and advances(asset) group in myprevious 3 successive years of personal balancne sheet in tally. If i show it as not recoverable can this be added to capital account.
Is there any other way to make this figure nil under loans and advances since it is made only for adjustment purpose and no actual loans are given.
I want to eliminate this entry and come clean of it
Regards
Dilip khambete
If i do the following is it correct?
Creat bad debt ledger under capital group
Journal entry F7 date 31.3.2023
bad debt-dr
Loans and advances (asset) --- cr
If i do the following is it correct?
Creat bad debt ledger under capital group
Journal entry F7 date 31.3.2023
bad debt-dr
Loans and advances (asset) --- cr
Read more at: https://www.caclubindia.com/forum/loans-and-advanced-asset--593968.asp
CAclubindia
