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what is the difference between provision for bad debts and
reserve for bad debts?
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Answer Posted / raghava kumar .i
provision means to kept aside of amount for the expected
losses.and reserve is to kept the amount aside to specific
purpose.when provision is reserved for bad debts or reserve
is created for bad debts is same for confussion they asked
like.provision for bad debts entry is .
profit and loss a/c ------------dr
to provision for baddebts a/c
(beeing provision created for baddebts.)
| Is This Answer Correct ? | 17 Yes | 6 No |
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