tag:blogger.com,1999:blog-2410664366776677676.post514580035538561534..comments2024-03-27T21:19:30.237+05:30Comments on Accounting Education: Accounting Treatment of Provision for doubtful debtsVinod Kumar ( Educator )http://www.blogger.com/profile/05331144653044775142noreply@blogger.comBlogger9125tag:blogger.com,1999:blog-2410664366776677676.post-91061316979490681242017-09-20T08:31:31.979+05:302017-09-20T08:31:31.979+05:30there is one more closing entry
Provision for ba...there is one more closing entry <br /><br />Provision for bad and doubtful debts A/c Dr.<br /> To sundry debtorsmohanscribdhttps://www.blogger.com/profile/05953655583672751007noreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-55624300096927268252017-05-05T17:01:01.392+05:302017-05-05T17:01:01.392+05:30Mayur I think you are right but the journal entry ...Mayur I think you are right but the journal entry should be:<br />1) while creating provision for bad debts:<br />Sundry debtors A/c Dr (As asset as debit balance)<br /> To provision for bad debts A/c (AS liabi has credit bal)<br />2) When actual bad debt occurs: <br />Bad debts A/c (As expense has debit balance)<br /> To Sundry debtor (Decrease in asset is a credit balance)<br /><br />So the final entry after cancelling the 1st and 2nd journal entry would be: <br /><br />Bad debts A/c Dr<br /> To Provision for bad debts A/c<br /><br />Am I Right?<br /><br /> Anonymoushttps://www.blogger.com/profile/09651797972992523643noreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-79150903716177848222017-03-12T14:45:15.536+05:302017-03-12T14:45:15.536+05:30read the post's journal entry in this sequence...read the post's journal entry in this sequence- 3-1-2..<br /><br />you first have to create a provision..then u have to record the actual bad debt...then u have to use the provision for the amount of actual bad debtSALMAN KHANhttps://www.blogger.com/profile/08864506525374711679noreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-75932463780796723632016-10-04T20:06:09.367+05:302016-10-04T20:06:09.367+05:30Provision should have credit balance whereas in th...Provision should have credit balance whereas in the above journal entry which I am re writing below, shows debit balance, how is this so?<br />Provision for bad debts<br /> To bad debts<br />Should not the journal entry be:<br />Sundry debtors<br /> To provision for bad debts<br />And at end of the year it has to be:<br />Profit and loss <br /> To sundry debtorsAnonymoushttps://www.blogger.com/profile/12800582713043332389noreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-26401367221013349972016-03-04T22:27:59.382+05:302016-03-04T22:27:59.382+05:30When will it provision comes to credit sideWhen will it provision comes to credit sideAnonymoushttps://www.blogger.com/profile/04340640315228049829noreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-30995005450621590092016-01-11T08:26:50.105+05:302016-01-11T08:26:50.105+05:30Thank you:)Thank you:)Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-50888066388958873142013-12-01T02:08:34.534+05:302013-12-01T02:08:34.534+05:30Thanx it helpedThanx it helpedAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-56697553117670096972012-04-27T22:42:35.542+05:302012-04-27T22:42:35.542+05:30thnxthnxAbhi...https://www.blogger.com/profile/17347454294482811969noreply@blogger.comtag:blogger.com,1999:blog-2410664366776677676.post-84677256465150954472008-11-13T18:38:00.000+05:302008-11-13T18:38:00.000+05:30Non profit debt consolidation companies are design...Non profit <A HREF="http://www.nationaldebtcrisis.com" REL="nofollow">debt consolidation</A> companies are designed to help consumers get out of debt and stay out of debt by helping them to pay off all debts in a timely fashion and repair damaged credit. They also have materials available to teach clients how to make credit work for them and the strategies behind building a healthy credit rating.Anonymousnoreply@blogger.com