Accounting for Doubtful Debts
Allowance for doubtful debts is created by forming a credit balance which …
Receivable
Provision / Allowance for doubtful debts
Recoverability of some receivables may be doubtful although not definitely irrecoverable. Such …
Bad Debts / Irrecoverable Debts
An entity may not be able to recover its balances outstanding in …
Discount Allowed
Discounts may be offered on sales of goods to attract buyers. Discounts …
Sales Return
Sales returns, or returns inwards, are a normal part of business. Goods …
Sales Tax on Receivable
When a credit sale involves the application of sales tax, the receivable …
Accounting for Receivables
What is accounts receivable? Accounts receivable is the balance owed to the …
