what is proviosion for bad debts and provision for bad and
doubtfull debts
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Answer / sanjay lashkari
Provision for Bad debts-
It is used along with the account Accounts Receivable in
order to report the net realizable value of the accounts
receivable.
Provision for bad and doubtful debts-A doubtful debt is a
debt, which the business considers may not be paid.
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / saiyad aejaj
in account bad debts are carryforward in p/l a/c but we
also create provision if we create this account we credit
baddebts balance to this account and doubtfull debt also
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / s
procedure of provision are same for bad debts and doubtful debts and the entry for this:
bad and doubtful debts a/c dr.
to provision for bad and doubtful debts a/c
| Is This Answer Correct ? | 1 Yes | 0 No |
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