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Old Saturday, January 05, 2013
seher bano seher bano is offline
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Quote:
Originally Posted by Rohail Khan View Post
Year 1990

Summary of entries..

Year 1990

1.
Dr profit and loss a/c 500
Cr bad debt reserve a/c 500

Year 1991

2.
Dr profit and loss a/c 400
Cr bad debt reserve a/c 400

3. entry for discount reserve.

Dr profit and loss a/c 650
Cr reserves for discount a/c 650.

Provision for B/D A/c....1000
to Bad debt A/c........................1000

and final entry is...
Profit and loss account........1250
Provision for bad debts.........................1250
(ye entry mein provision+ discount add kia gaya hai. or yahi mujhe samaj nahi araha ku.


regards..
Now these are the right entries as per guide.
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