amount un recoverable from a debtor and forming part of opening balance from the last 2 year and no transaction with that debtor during the last 2 year , can such amount can be shown as discount allowed
4 Replies
CA. Hitesh Garg
(Employed)
(45 Points)
Replied 29 August 2011
No rahul that amount cant be treated as discount allowed,but after expiring the three years from the end of the previous year in which the amount was accrue will be written of as bad dabts.
valji
(Accounts manager-MBA)
(2150 Points)
Replied 29 August 2011
agree ,amt will trrate as BAD & Doubtful debts
SUNIL
(ACCOUTANT)
(167 Points)
Replied 29 August 2011
The amount should be taken as Bad & Doubtful Debt
CA ADITYA SHARMA
(CA IN PRACTICE )
(16719 Points)
Replied 29 August 2011
yes the amount should be treated as bad debts
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