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No entry for opening debtors these are just transferred from previous period to current period.
Wiki User
∙ 9y ago
Wiki User
∙ 12y agoType your answer here.1.provision for debtors A/C Dr.
To Debtors A/C
2.provision baddest A/c Dr.
to debtors a.c
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What is journal entry for allowances to debtors?
[Debit] Allowance for debtors account [Credit] Accounts receivable account
What will be the journal entry for sundry debtors 1000?
sundry debtors A/c........DR 1000 TO Sales A/c 1000
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
Is provisions for bad debts nominal account?
yeah may be because provision for doubtful debt is a reserve which has been created against the debtors which is an estimated loss and also the journal entry is [Debit] Provision for bad and doubtful debts a/c [Credit] Debtors a/c and here this loss is debited and hence it can be treated as nominal a/c but while preparing trial balance it has a credit balance as its a liability
What is the journal entry to record earn-out to seller?
Dr Investment Cr Provision for contingent consideration
What is the journal entry of Advance received from debtors?
Debtors are those customers who purchase goods from company on credit so no advance can be issued by debtors. on the other hand advance can be received from customers and accounting entry is as follows: [Debit] Cash / bank [Credit] Unearned revenue
How do you pass entry for payment received from debtors in journal as well as in payment?
debit cash / bankcredit accounts receivable
What is provision Journal Entry?
Provisional entries are made to account for future expenses or foreseen future losses. we will record these provisional entry by, initially debiting Expence account and crediting provision account. when provision is released, we debit the provision account and credit the Expenses account.
What is the journal entry of Reversal of provisions of bad debt?
debit accounts receivableCredit provision for bad debts
What is the journal entry for amount received from debtor after sales?
debit cashcredit accounts receivable
What is the journal entry of provision for bad and doubtful debts?
Provision for bad and doubtful debt is not go to profit and loss account, and it is go to balance sheet.
Provision for discount on debtors and provision for discount on creditors?
a provision is set up to give discounts to debtors who settle accounts early. as the company are not receiving the full debt they have a provision in place in this eventuality. This is seen as an expense to the business and brings the amount the debtors down. In other words dr P&L and Cr debtors in balance sheet
