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What is bad debt ? how does it effects on Balance sheet and
profit and loss account?
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Answer Posted / pihu
In business there are some sundry debtors who did not turn-up
and clear their balances and are hard to be recovered. The
amount lying with these debtors are known as bad debts.
Entry in P/L Account. Bad debts are shown in the debit side
of the P/L account.
Entry in Balance Sheet. Sundry debtors will be less by bad
debts amount.
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