Unit Three Supplementry Questions

System
System Posts: 100,534 🤖 Admin 🤖
edited June 18 in AAT student discussion
What would be the right sort of answer for this question.

Explain the double entry for writing off a bad debt?

Would it just be something like, credit sales, debit debtor write offs??

Havent got a clue, and have a memory blank of double entry once again!!

Thanks

Comments

  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit Three Supplementry Questions

    Cr Debtors account (susidary)
    Dr Bad Debts
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit Three Supplementry Questions

    And also
    Cr Sales Ledger Control

    If the debt is more than 6 months old, you can also claim VAT relief. If VAT was claimed the entries would be something like

    Cr SLCA 117.50
    Dr VAT 17.50
    Dr Bad Debts 100

    Chris
  • System
    System Posts: 100,534 🤖 Admin 🤖
    Re:Unit Three Supplementry Questions

    I'm with ya!! thanks guys.

    :)

Categories

Privacy Policy