Accounting – 4.4 Irrecoverable debts and provision for doubtful debts | e-Consult
4.4 Irrecoverable debts and provision for doubtful debts (1 questions)
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Journal Entry
Date | Account Name | Debit (£) | Credit (£)
| 2023-12-31 | Debtors (XYZ Ltd) | £12,000 | |
| Bad Debts | £12,000 |
Explanation: To record the irrecoverable debt to XYZ Ltd.
Ledger Account - Debtors (XYZ Ltd)
Debtors (XYZ Ltd)
| Date | Particulars | Debit (£) | Credit (£) |
| 2023-01-01 | Initial Balance | ||
| 2023-12-31 | Bad Debts | £12,000 | |
| Balance | £0 |