Interested to Buy Any Domain ? << Click Here >> for more details...
An amount of $287 written off as a bad debt in a previous
accounting period was received from photo services.
How to pass the journal entry?
- 2 Answers
- 4478 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / ajaya kumar nanda
Dear friend :- create a new head 'Bad Debt Recovered A/c'
Accounting treatment:-
1.When Recive
Cash A/c Dr.
To Bad Debt Recovered A/c.
Being the amount recoverted from Photo Service which was
previously Written off Bad.)
2.Bad Recovered transfer to P&L Account.
Bad Debt Recovered A/c Dr.
To Profit & Loss A/c
(Being Bad debtRevovered transfer to P& L A/c.)
| Is This Answer Correct ? | 9 Yes | 0 No |
Answer / amit kumar tiwari
Dear Friend:-Create a head of Rebate & discount under
Profit and loss account and pass Journal entry. You can
pass both entries when you write off Dr. Balance or Cr.
Balance.
Rebate & Discount Dr. $286.00
To Party $286.00
(Being Amount transferred to Profit Loss account)
| Is This Answer Correct ? | 2 Yes | 5 No |
TDs Return in Excel format
what is profit & Loss Appropriation A/c. why it is prepered? what are its benefit for a company.
what is IPO
what is the differences between quality assurance and quality improvements?
What are the transactions and journal entry involved when a customer makes purchase or does payment for his own consumption or purpose through debit card?
What is Capital reserve and Revenue reserve...? Any example would be highly appreciated.
i had completed my continious service in ltd co for 4.6years,whether i am eligible for gratuity
Non-performing Asset (NPA)
What is the reason for balance sheet not getting talleyed?
HOW TO CALCULATE INPUT TAX CREDIT (ITC) ?
what is subscription order
can we adjust margin money paid to bank to open a Bank Guarantee in stock statement while calculating Drawing Power
Audit 
