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How to treat the provision for bad debts which appeared on
the credit side of the P&L A/c?
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Answer Posted / harsha
if old provision for bad debts made for previous year out
of profits is greater than bad debt of current year than it
should be entered in the credit side of p/l account.
it should be entered in income side as follows
old provision for bad debt
less-bad debts
less-provison for bad debts of current year.
| Is This Answer Correct ? | 12 Yes | 2 No |
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