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What is treatment of :-provision for …

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What is treatment of :-provision for doubtful debts was to be in excess by 1600?

Posted by Shffi Mongia 5 years, 3 months ago

CBSE > Class 12 > Accountancy

2 answers

Riya Choudhary 5 years, 3 months ago

In cr...of revaluation account

Meghna Thapar 5 years, 3 months ago

The provision for doubtful debts is an accounts receivable contra account, so it should always have a credit balance, and is listed in the balance sheet directly below the accounts receivable line item. The two line items can be combined for reporting purposes to arrive at a net receivables figure. The provision for doubtful debts, which is also referred to as the provision for bad debts or the provision for losses on accounts receivable, is an estimation of the amount of doubtful debt that will need to be written off during a given period.

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