debit retained earnings/cash / bank
credit patent account
journal entry to write off a loan
example suman moters of rs 10000 is write off then what is the entry
debit Retained earningscredit loan to company
Debit bankCredit retained earnings
Debit notes payableCredit cash /bank
Debit retained earnings / amortizationCredit goodwill account
Debit bank accountCredit retained earnings
debit owners equitycredit purchases
Debit amortization of financing costCredit financing cost
Debit bad debtsCredit accounts receivable
debit bad debtscredit notes receivable
You would credit the customer account and debit bad debt.