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Rs 45000 received from the source of bad debts which were
already declared.pass entry

Answers were Sorted based on User's Feedback



Rs 45000 received from the source of bad debts which were already declared.pass entry..

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

Rs 45000 received from the source of bad debts which were already declared.pass entry..

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

Rs 45000 received from the source of bad debts which were already declared.pass entry..

Answer / ravindra

bad debts a/c dr
to profit & loss a/c

Is This Answer Correct ?    0 Yes 0 No

Rs 45000 received from the source of bad debts which were already declared.pass entry..

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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