05-31-2010, 11:22 PM
Hi All,
This is my first time on this forum, & I am hoping someone will be able to help me on the below.
Our Accounts Receivable contains a amount of $50,000.00 which is over 90days. The amount will be recovered as we have an agreement. In order to adhere to the reporting requirements I would like to create an provision for the above amount.
Could someone please help me with the journal entries to create a provision, with an explanation.
Thanks
Raj
This is my first time on this forum, & I am hoping someone will be able to help me on the below.
Our Accounts Receivable contains a amount of $50,000.00 which is over 90days. The amount will be recovered as we have an agreement. In order to adhere to the reporting requirements I would like to create an provision for the above amount.
Could someone please help me with the journal entries to create a provision, with an explanation.
Thanks
Raj
