In UK practice, can Irrecoverable Debt expense and Adjustment for the Allowance of Doubtful Debt both be posted to the same P/L account ?
I am studying with AAT and I can't seem to get a clear answer. The text book sometimes shows two accounts being used, one for Irrecoverable Debt expense and one for the adjustments to the Allowance for Doubtful Debts, yet on other occasions, it posts Irrecoverable expense and the adjustments for Allowance for D.Debt both to the Irrecoverable Debt expense account. Any clarification would be much appreciated.
- 1 month ago