What is the entry for collected debts related to a previous year?

Default:
Cash $1,000
Customer $1,000

The case:
Cash $,1000
? $,1000

Question

kalyana narne · Answer

Cash A/C Dr

Account receivableA/C

Dasarathi Rath · Answer

Recover of Bad Debt entry

1. Cash Bebit $ 1000

Bad Debt Recover Credit $ 1000

After that transfer, bad debt recover Income Statement

2. Bad Debt Recovered Account Bedit $ 1000

Profit and Loss Account Credit $ 1000

Utilisateur supprimé · Answer

Dr: Bank :1000$

CR: Bad depts Recovered :1000$

Muhammad Kashif Safdar · Answer

Dr. Cash a/c $ 1,000 Cr. Retained Earning(Bad debts recov.) $ 1,ooo.oo

Sadique Sajid Mohammed Khan · Answer

Dr Cash $, 1000

Cr Bad Debts Recovered (income) $, 1000

or as per ECL of IFRS 9 if practising

MUHAMMED IKHLAS · Answer

BY, COSTOMER 1000

( ON ACCOUNT)

TO, CASH 1000