Rs 45000 received from the source of bad debts which were
already declared.pass entry
Answers were Sorted based on User's Feedback
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)
Is This Answer Correct ? | 11 Yes | 0 No |
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)
Is This Answer Correct ? | 4 Yes | 0 No |
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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