Question

Received cash for a bad debt written off last year rs 700 journal entry

Answer 1

Heya mate

Cash a/c Dr 700
to bad debt recovered a/c 700
(being bad debt recovered)

hope it helps

Answer 2

                                     JOURNAL ENTRY

Cash A/c                         -----Dr                   700

          To Bad Debt Recovered A/c                    700

       (Being Bad Debts Recovered)

Bad debt refers to outstanding balances owed that are no longer deemed to be recoverable and must be written off as losses.

Bad debt recovered are the amount that were thought that they cannot to collected but payment received for a debt that was written off.

#SPJ2