Bad debt recovered is credited
Atharv Sankliya (1354 Points)
31 October 2022
bad debt recovered is credited to profit and loss a/c of current yr or credited to p&l adjustment a/c?
3 Replies
Yasaswi Gomes new
(Finance )
(4514 Points)
Replied 31 October 2022
Once again i make final entries. Monthly income statements also have the same accounting heads. Tax wise you need to pay it back and im not sure what the entries are. This is what i complained about governance. These people lower caste and poor people ruined all of making thing things complex for professionals. The CEO'S look for cheap factors of production and everything goes haywire. The indian p olice are also b.com and indian politicians are failed candidates looking for public money
sabyasachi mukherjee
(27574 Points)
Replied 01 November 2022
Bad debt recovered is credited to provision for bad and doubtful debts.
Some open up profit and loss adjustment account .
Some open up profit and loss adjustment account .
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