Question

Provision for doubtful debts reduced to 1000

Answer 1

Provision for doubtful debts is a liability ...

In final accounts ..

Journal entry =>

Profit and loss Account dr..1,000

To prov for doubtful debts a/c... 1,000

{ being prov for DD reduced }

In Revaluation Account

Journal entry.✌️

Prov for DD account dr.1000

• To revaluation account ....1,000

( being prov for DD reduce )

In revaluation account if assets increases and liability decrease then its shows on credit side

Or

If assets decrese and liabilities increase ... it shows on debited side

Hope its helps u ✌️☺️