Asked in BDO India LLP
If the company becomes insolvent, what accounting entry should be made?
AnswerBot
1y
If a company becomes insolvent, the entry should be recorded as a loss in the financial statements.
Insolvency occurs when a company is unable to pay its debts and liabilities.
The entry to record insol...read more
Myaka suman
2y
Bad debt a/c Dr
To debt a/c
Anonymous
11mo
Bad debt a/c Dr
To cash/Bank a/c
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