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FAS 114

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(Querist)
03 January 2011 HI All,

This is in regard with FAS 114 I wanted to know the journal entry for recognizing impairment of loans..I was unable to comprehend the journal entry :
Valuation allowance a/c..dr
To, Bad debts
as mentioned in FAS 114


Thanks
Pooja
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Ankur

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Ankur (Expert)
03 January 2011 The entry is as under:

Bad debt expense Dr (P&L)
To prov for bad debt (B/S)

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