partnership
This query is : Resolved
04 November 2010
wht entry is passed on partnership if:
A customer whose a/c has been written off, now promised to pay Rs. 1,200 in full settlement.
A customer whose a/c has been written off, now promised to pay Rs. 1,200 in full settlement.
04 November 2010
Credit P/L account
Debit Debtor account
Debit Debtor account
04 November 2010
Debtor A/C Dr
to Bad Debts recovery a/c
After we receive the payment
Bank a/c dr
To Debtors a/c
to Bad Debts recovery a/c
After we receive the payment
Bank a/c dr
To Debtors a/c
04 November 2010
hey r u sayin rite..............not violating accounting principle.........
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