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example suman moters of rs 10000 is write off then what is the entry
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∙ 11y ago
Wiki User
∙ 9y agodebit cash
credit investment
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What is debt recovery in finance?
bad debt recovery It is when account receivable previously written off as uncollected is now collected. The entry is to reverse the original write-off by debiting accounts receivable and crediting allowance for bad debts. A second entry is required for the collection by debiting cash and crediting accounts receivable. A high ratio of recoveries to write-offs may signify to the analyst that the firm writes off uncollected debts too quickly.
Can you write off a liability?
It is possible to write off a liability. When doing this, you need to write it off as 'other income'.
What is special off-balance sheet vehicle?
structured investment vehicle
Write-off---What is the meaning of bank lone write off?
A bank loan write-off is when the customer doesn't pay the loan and the bank writes it off as a bad debt. In a write-off, the bank includes a bad debt as an uncollectible loss on its tax return.
Can you write off the interest of a home loan if you are the primary owner but not the primary resident?
If you make the interest payments, you can normally write them off on taxes.
What is the journal entry to charge-off a loan?
journal entry to write off a loan
Journal entry to write off old outstanding checks?
Debit bankCredit retained earnings
What is the journal entry to write off a loan to a company?
debit Retained earningscredit loan to company
What is the journal entry to write off goodwill?
Debit retained earnings / amortizationCredit goodwill account
What is journal entry to write off note payble?
Debit notes payableCredit cash /bank
What is the general ledger journal entry to write off bad investments?
debit cash / bankdebit loss (if any)debit accumulated depreciationcredit fixed assetcredit profit (if any)
What is the journal entry to write off financing costs?
Debit amortization of financing costCredit financing cost
What is the general ledger Journal entry for missing stock to write off?
debit owners equitycredit purchases
Journal entry to write off payroll outstanding checks?
Debit bank accountCredit retained earnings
What is the journal entry to write off patent?
debit retained earnings/cash / bankcredit patent account
What is the general ledger journal entry to write off notes receivable?
debit bad debtscredit notes receivable
What is the journal entry to write off a customer account due to bankruptcy?
Debit bad debtsCredit accounts receivable
