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what is journal entry of reserve for doutful debts.
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Answer / arjun kumar
debit the company reserves a/c
credit the reserve for doubtfil debts A/c
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / genius
Reserve for doubtful debts or Bad debts
Profit & loss A/c.......Dr.
To Provision for bad debts or doubtful debts A/c
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / v sakkthivel
Reserve for bad debts
When sundry debitors fail to return for sum of amount ,
the company reserve some precentage of sum on surdry
debitors to waive off to avoid impending loss to the
compay .
Example: Sundry debitors Rs 2000
Bad and doubtful debts 200
Reserve for bad debts 15%
In assests side Sundry debitors 2000
Less reser for bad debts-300
bad debts 200 reserve is 300 exces 100
will be profit side of profit and loss account.( credit
side)
If bad debts exceeds the reseve will in profit and loss
account debit side
| Is This Answer Correct ? | 1 Yes | 0 No |
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