Accounting for IGCSE & O level - Accounting Procedures (Section 25 - No. 38)
What would the journal entries be for irrecoverable debt of $300 to be written off?
Debit irrecoverable debts $300, Credit receivables $300
Debit bad debts $300, Credit receivables $300
Debit receivables $300, Credit bad debts $300
Debit bad debts $300, Credit irrecoverable debts $300
Explanation
Irrecoverable debt is written off by debiting bad debts and crediting receivables.
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