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Rs. 1,500 received from Ram which were written off as bad-debts earlier. To record this receipt, cash account will be debited and _________ account will be credited.
- a)Ram’s
- b)Bad – debts
- c)Bad – debt recovered
- d)Sales
Correct answer is option 'C'. Can you explain this answer?
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Verified Answer
Rs. 1,500 received from Ram which were written off as bad-debts earlie...
The entry for recording recovery of bad debts will be:
Cash A/c Dr.
To Bad Debts Recovered A/c
Thus, account will be credited is Bad- Debts recovered A/c.
Most Upvoted Answer
Rs. 1,500 received from Ram which were written off as bad-debts earlie...
The entry for recovering of bad debt would be: cash A/c........Dr To bad debts recovered A/c This bad debt recovered A/c is credited becz it's showing profit due to the recovery of bad debts. when the bad debts would have happened then entry would have like this. bad debts A/c.......Dr To debtor A/c This bad debt will be transferred to P&L A/c....So now,when bad debt has been recovered then bad debt recovered A/c would be credited as showing profit due to recovery.And finally,this bad debt recovered A/ e transferred to the debit side of P&L A/c.. bad debt recovered A/c....Dr To P&L A/c
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Rs. 1,500 received from Ram which were written off as bad-debts earlie...
B)Bad Debts Recovered
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Rs. 1,500 received from Ram which were written off as bad-debts earlier. To record this receipt, cash account will be debited and _________ account will be credited.a)Ram’sb)Bad – debtsc)Bad – debt recoveredd)SalesCorrect answer is option 'C'. Can you explain this answer?
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