Jounal entry for provision for doubt ful debts

This query is : Resolved

MAHESH (Querist)
Follow

03 July 2014 if provision for doubtful debts appearing in trial balance in the first year, what is the journal entry for written in the journal.

Rupesh Jain

Rupesh Jain (Expert)
Follow

03 July 2014 it is recoverable then reverse the entry.
if not recoverable then written off in profit & loss a/c

CA Deven

CA Deven (Expert)
Follow

03 July 2014 Dear Sir,

We have already debited that amount in the 1st yr while making provision.

now at the time of considering as bed debts again will debit the same amount ????

Upgrade to CAclubindia Pro. Subscribe Now!

Rupesh Jain

Rupesh Jain (Expert)
Follow

05 July 2014 you are showing in balance sheet then now you make tfr entry from provision to exp. a/c

now entry made with the bad amounts

bad debts a/c

to provision for bad debt a/c

CA Deven

CA Deven (Expert)
Follow

07 July 2014 Bed debts will hit to my P/L A/c debit side. so my question is i have already debited that amt as RDD in previous yr. So the same amt again debited in P&L