Irrecoverable debt Flashcards
1
Q
What are some reasons for irrecoverable debt?
A
Customer in liquidation
Customer is having diifficulty paying
Customer dusputes all/part of debt
2
Q
What we be the accounts for irrecoverable debt without VAT?
A
DR Irrecoverable debt expense
CR SCLA
3
Q
What we be the accounts for irrecoverable debt with VAT?
A
DR irrecoverable debt expense
DR VAT
CR SLCA
