How to make journal entry of write of Trade receivable or trade payable
This query is : Resolved
25 January 2025
How to make journal entry of write off of Trade receivable or trade payable
if Trade receivable and Trade payable for Rs. 1,18,000 and 1,18,000 each respectively. please reply.
if Trade receivable and Trade payable for Rs. 1,18,000 and 1,18,000 each respectively. please reply.
25 January 2025
Bad debts write off dr 1,18,000
To trade receivable cr 1,18,000
(Bad debts written off)
Trade payable dr 1,18,000
To other income cr 1,18,000
(Trade payable not paid treated as other income)
To trade receivable cr 1,18,000
(Bad debts written off)
Trade payable dr 1,18,000
To other income cr 1,18,000
(Trade payable not paid treated as other income)
25 January 2025
sir,
Trade receivable and trade payable inclusive GST amount,
in the above mentioned amount Rs, 18,000 GST in the both case,
whether GST should be revised in the both Case ie.
RS. 18,000 should be credited in the case of write off Trade payable
Rs, 18,000 should be debited in the case of write off Trade Receivable.
please reply
whether should be rev
Trade receivable and trade payable inclusive GST amount,
in the above mentioned amount Rs, 18,000 GST in the both case,
whether GST should be revised in the both Case ie.
RS. 18,000 should be credited in the case of write off Trade payable
Rs, 18,000 should be debited in the case of write off Trade Receivable.
please reply
whether should be rev
25 January 2025
In case of both GST need not be reversed.
Only ITC claimed on trade payable is to be reversed.
Only ITC claimed on trade payable is to be reversed.
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Claiming TDS credit of unclaimed TDS of past years
- SALE OF AGRICULTURAL LAND SITUATED IN CITY MUNICIPAL LIMITS
- ITC Claim of sale versus purchase -
- Appeal Income tax
- Late fee paid for IT filing
- ITC received by bank in portal
- REQUIRE PAYROLL REGISTER IN EXCEL FORMATE
- PAN Inoperative-higher TDS
- How to make journal entry of write of Trade receivable or trade payable
- Importer's TIN number in commercial invoice
- Articles status
- Regarding Applicability of IND AS.
- Penalty u/s 125 for non filing of 3b return
- Dr. and cr. balance on 31st March
- What is meaning of written back and write off
- Form 15CA (Part C)
- Accounting treatment of trade discount and cash discount
- How to make journal entry of pre-operative expenses or Deferred revenue expenses
- VAT on Sale of Liquor in Wine Shop / Non resturant in Maharahtra
- Accounts submission of Trust on Maharashtra Charity commission site
Trending Online Classes
-
25 Hours GST Scrutiny of Return and Notice Handling(With Recording)
Industry Expert14 February 2025 -
Survey, Search and Seizure under Income Tax Act 1961
CA Hari Agarwal
CAclubindia
