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Answer Posted / syed mohd ziya
provisions are made for definite expected losses and
reserves are made to meet out the cotingencies.
bad debts- nominal nature- loss
all expences and losses are debited, gains are credited.
journal entry:-
profit and loss a/c Dr
To provision for bad & doubtfull debts
2- bad debts a/c Dr
TO debtors a/c
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