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what is the journal entry for bad debts?
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Answer Posted / raman n
At the time of recognizing bad debt;
Provision for bad debts xxx
Bad debts (If bad debt exceed provision existing) xxx
To Sundry Debtors A/c xxx
Year end;
P&L A/c A/c xxx
To Bad debts xxx
(for amount reining in Bad debts A/c)
P&L A/c xxx
To Provision for Bad debts A/c xxx
(For provision calculated as required for the year)
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