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Introduction to Dissolution

Give the word...

Question

Give the word / term or phrase which can substitute each of the following statement.

The amount which is not recoverable from debtors.

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Solution

Bad debts

Explanation: The amount which is not recoverable from debtors due to their dishonesty, insolvency or death is regarded as bad debts for the firm. It is a loss to the firm and must be written on the debit side of the Profit & Loss Account.

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