Following is the extract of Trial Balance as at 31st March, 2025: Debtors ₹ 5,15,000 Bad Debts ₹ 12,500
Following is the extract of Trial Balance as at 31st March, 2025:
Additional Information:
(i) An amount of ₹ 15,000 due from a party, the recovery of which was doubtful before preparing the Trial Balance, thereafter proved bad debt and required to be written off.
(ii) Create Provision for Doubtful Debts @ 10% on Debtors.
(iii) Create Provision for Discount on Debtors @ 5% on Debtors.
Show the relevant extract from the Profit & Loss Account and the Balance Sheet.
| Heads of Accounts | Dr. (₹) | Cr. (₹) |
| Debtors | 5,15,000 | — |
| Bad Debts | 12,500 | — |
| Provision for Doubtful Debts | 17,500 |
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