Accounting treatment of write off sundry debtors
This query is : Resolved
03 November 2024
what would be the journal entry of sundry debtors write off.
and what would be impact on tax purpose.
and what would be impact on tax purpose.
03 November 2024
Debit: Bad Debts Expense (or Loss on Bad Debts) | [Amount]
To Sundry Debtors (or Accounts Receivable) | [Amount]
Bad debts, if irrecoverable, are allowed as an expense under Section 36(1)(vii) of the Income Tax Act.
To Sundry Debtors (or Accounts Receivable) | [Amount]
Bad debts, if irrecoverable, are allowed as an expense under Section 36(1)(vii) of the Income Tax Act.
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