Rs 45000 received from the source of bad debts which were already declared.pas

Rs 45000 received from the source of bad debts which were
already declared.pass entry

Question Posted / satyaki_raju@yahoo.com

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Rs 45000 received from the source of bad debts which were already declared.pass entry..

Answer / joseph

Here two things can happen
1) If a co. for Bad Debts in balance Sheet (Doesn't Write off)
Then the recovery Entry Will be

Cash/ bank Dr
Bad Debts Cr

2) If the co. has written off the bad debts &
later(following year) you recover it Then the entry will be
Cash/ Bank Dr
Bad Debts Recovered A/c (Indirect Income)

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Rs 45000 received from the source of bad debts which were already declared.pass entry..

Answer / joseph

Is This Answer Correct ?

4 Yes

0 No

Rs 45000 received from the source of bad debts which were already declared.pass entry..

Answer / ravindra

bad debts a/c dr
to profit & loss a/c

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0 Yes

0 No

Rs 45000 received from the source of bad debts which were already declared.pass entry..

Answer / abhishek

baddabts recoverd a/c dr.45000
to profit/loss a/c 45000

Is This Answer Correct ?

1 Yes

6 No

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