The adjustment entry for creating provision for doubtful debts is- Profit or loss A-c Dr nbsp- nbsp- nbsp- nbsp- nbsp- nbsp- nbsp- nbsp- nbsp- To Provision for doubtful debts A-cFalseTrue

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Recording Provision for Doubtful debts

The adjustmen...

Question

The adjustment entry for creating provision for doubtful debts is:

Profit or loss A/c Dr
To Provision for doubtful debts A/c

False

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True

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What are provisions? How are they created? Give accounting treatment in case of provision for doubtful Debts.

Prepare the bad debts account, provision for account, profit and loss account and balance sheet from the following information as on March 31, 2017

	Rs
Debtors	80,000
Bad debts	2,000
Provision for doubtful debts	5,000

Adjustments:

Bad Debts Rs 500 Provision on Debtors @ 3%.

What is the entry for creating the provision for doubtful debts?

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