Tell me the General entry for provision for bad debts?

Categories >> Accounting >> Accounting AllOther
Suggest New Category

Question Posted / naveenchowdary

19 Answers
30802 Views
Capita, JMD Group, JPMorgan Chase, LR, State Street, I also Faced
E-Mail Answers

Answers were Sorted based on User's Feedback

Tell me the General entry for provision for bad debts?..

Answer / dharma teja

Profit & Loss a/c Dr
To Bad Debts Provision

Is This Answer Correct ?

20 Yes

1 No

Tell me the General entry for provision for bad debts?..

Answer / rabindra kumar mallick

Bad debt a/c Dr.

To Provision for bad Debt a/c

Is This Answer Correct ?

24 Yes

10 No

Tell me the General entry for provision for bad debts?..

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

Tell me the General entry for provision for bad debts?..

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

Tell me the General entry for provision for bad debts?..

Answer / monit

P & L A/c Dr. XXX
TO PROVISION FOR BAD DEBTS A/c XXX .

Is This Answer Correct ?

8 Yes

3 No

Tell me the General entry for provision for bad debts?..

Answer / krishanaveni

bad debts
to
provision for bad debts a/c

Is This Answer Correct ?

8 Yes

5 No

Tell me the General entry for provision for bad debts?..

Answer / raju kharade

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

Tell me the General entry for provision for bad debts?..

Answer / afhjaehrjklehrk

dr bad debts
cr provision for bad dbets

Is This Answer Correct ?

4 Yes

2 No

Tell me the General entry for provision for bad debts?..

Answer / sudharshan yadav

bad debts a/c
profit& loos a/c