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Tell me the General entry for provision for bad debts?
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Answer / dharma teja
Profit & Loss a/c Dr
To Bad Debts Provision
| Is This Answer Correct ? | 20 Yes | 1 No |
Answer / rabindra kumar mallick
Bad debt a/c Dr.
To Provision for bad Debt a/c
| Is This Answer Correct ? | 24 Yes | 10 No |
Answer / pg
P&L A/c Debit
To Provision for Bad Debt A/c Credit
(This is among the few entries that hit the P&L directly)
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / padma@mba hr
If you have a general provision you can set-off the bad debt
against that account.
If you have a specific provision, you have to see whether he
has been provided for. If thats the case you just debit that
a/c. If that debtor is not individually provided for, you
have to write it off against the P&L account.
Again, normally companies have to give the breakup of the
provisions accounts in their financials. They have to show,
1. What is the actual bad debt
2. What are the general or specific provisions made during
the year.
| Is This Answer Correct ? | 12 Yes | 6 No |
Answer / monit
P & L A/c Dr. XXX
TO PROVISION FOR BAD DEBTS A/c XXX .
| Is This Answer Correct ? | 8 Yes | 3 No |
when provision is made
p&l a/c---dr
To bad debt provision a/c
when loss on account of bad debt recovered from bad debt
provision
bad debt a/c dr
To bad debt provision a/c
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / afhjaehrjklehrk
dr bad debts
cr provision for bad dbets
| Is This Answer Correct ? | 4 Yes | 2 No |
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