if say bad debts which already written off recovered during the year then what should be the journal entry/entries tobe pass
2 Replies
CA DIGANT CHADHA
(Academician & Consultant)
(195 Points)
Replied 21 January 2013
cash dr
to bad debt recovered account
this bad debt recovered will be the income of the year in which they are received.
thanks
Jag Bhushan Sharma
(Faculty in a B-School)
(633 Points)
Replied 23 January 2013
Digant is absolutely right. In case you wish to see a video on journal entries I am giving here a link which you can watch.
https://www.youtube.com/watch?v=dG2xEXq57iQ
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