whether baddebts can be charged for sundry creditors
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Answer / h.r. sreepada bhagi
Sundry Debtors & Sundry Creditors are two different groups
in Accounts & the former represents assets & the latter
liabilities. Bad debts should be charged of the Profit &
Loss A/c of the relevant period and can not be adjusted
against sundry creditors.
However if the debtor from whom money is receivable fails to
pay and it becomes bad debt ; Same debtor has supplied some
goods or provided services and the company owes him the
money, then the bad debt can be set-off against the money
payable to the same party under Sundry Debtors towards the
goods or services received.
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Answer / neeraj
No it cannot be Charged because it will increase the income
and the same amount will be Party's debtors
| Is This Answer Correct ? | 0 Yes | 1 No |
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