bad debts
This query is : Resolved
02 April 2009
Dear Sir,
A ltd sold goods to B ltd for 20 lacs.at the time of delivery prices went down as such B LTD refused to accept the goods.A ltd sold it to C LTD 6 lacs.matter is in arbitration for 14 lacs. querry 1) Can A ltd write off 14 lacs as BAD DEBTS? 2) IF ltd wrtes it off as bad debts ,is is not likely that arbitration will reject the claim saying since u have triten off the amount u can not get claim. c.a.paresh zatakia
A ltd sold goods to B ltd for 20 lacs.at the time of delivery prices went down as such B LTD refused to accept the goods.A ltd sold it to C LTD 6 lacs.matter is in arbitration for 14 lacs. querry 1) Can A ltd write off 14 lacs as BAD DEBTS? 2) IF ltd wrtes it off as bad debts ,is is not likely that arbitration will reject the claim saying since u have triten off the amount u can not get claim. c.a.paresh zatakia
02 April 2009
can u pls tell y the arbitrator is appointed...
and i suppose u need to record sales at 6 lacs.... so there is no question of writing off bad debts...
and i suppose u need to record sales at 6 lacs.... so there is no question of writing off bad debts...
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