Dear All
We have created a provision for income tax and provision for doubtful debt. But no income tax due and no bad debt incurred in the year. In this case what adjusting entry will post or hoe we treat the provisions in books.
Kindly help me to solve this.
Dear
Please reverse the entry as such to close the entry.
Shyam S Gupta and Company
New Delhi
CA Inter
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Arpan Bohra & Co
Hyderabad
CA Inter
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N N V Satish & Co.,
Hyderabad
CA Inter
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CCI
Pro
CAclubindia
