"A debtor, U Owe, was declared insolvent. His insolvent estate paid a dividend of 50c in the R1 and the remainder of R210 must be written off as irrecoveralbe" I have a problem with the entry into the journals. Please help
2006-09-12 18:45:43 · 3 answers · asked by petra s 1 in Education & Reference ➔ Homework Help
Basic T accts
Here ya go!
You're relieving the debt via cash and charge off.
Accts receivable credit 50c, credit 210c
Cash Debit 50c
Bad debt expense Debit 210c
Hope that helps!
2006-09-12 19:36:40 · answer #1 · answered by Yada Yada Yada 7 · 0⤊ 0⤋
credit debtors control R210
debit bad debts R210
cedit debtors control
debit bank
2006-09-13 01:52:49 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Call your Auditor/ Audit firm for help, the answer you found here is very risky.
Happy Debiting & Crediting!!
2006-09-13 01:54:45 · answer #3 · answered by George 2 · 0⤊ 0⤋