what is the journal entry for bad debts?
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Answer Posted / umer farooq
journal entry will be
Bad debts A/c...........Dr. xxx.
To Debtor A/c xxx.
(being bad debts occured)
closing entry will be
P&L A/c................Dr. xxx.
Bad debts A/c xxx.
(being bad debts transferred to p&l A/c)
And if we have the Account of provision for bad debts then
we will close bad debts to provision for bad debts.
Provision for bad debts A/c.....Dr. xxx.
Bad debts A/c xxx.
(being bad debts transferred to provision)
P&L A/c....................Dr xxx.
provision for bad debts A/c xxx.
(being provision transfer to P&L A/C)
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