{"id":57587,"date":"2024-04-16T01:04:34","date_gmt":"2024-04-16T01:04:34","guid":{"rendered":"https:\/\/exam.pscnotes.com\/mcq\/?p=57587"},"modified":"2024-04-16T01:04:34","modified_gmt":"2024-04-16T01:04:34","slug":"the-bad-debts-that-have-been-written-off-if-recovered-subsequently-then-they-are-credited-to","status":"publish","type":"post","link":"https:\/\/exam.pscnotes.com\/mcq\/the-bad-debts-that-have-been-written-off-if-recovered-subsequently-then-they-are-credited-to\/","title":{"rendered":"The bad debts that have been written off, if recovered subsequently then they are credited to"},"content":{"rendered":"<p>[amp_mcq option1=&#8221;Debtors account&#8221; option2=&#8221;Sales account&#8221; option3=&#8221;Trading account&#8221; option4=&#8221;Profit and loss account&#8221; correct=&#8221;option1&#8243;]<!--more--><\/p>\n<p>The correct answer is A. Debtors account.<\/p>\n<p>When a debt is written off, it is removed from the accounts and the debtor is considered to be a bad debt. If the debt is subsequently recovered, it is credited back to the debtors account. This is because the debt was originally recorded as a receivable, and when it is recovered, it should be recorded as a reduction in receivables.<\/p>\n<p>Option B, Sales account, is incorrect because sales account is used to record sales revenue. Option C, Trading account, is incorrect because trading account is used to record the profit or loss from trading activities. Option D, Profit and loss account, is incorrect because profit and loss account is used to record all income and expenses, including bad debts.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>[amp_mcq option1=&#8221;Debtors account&#8221; option2=&#8221;Sales account&#8221; option3=&#8221;Trading account&#8221; option4=&#8221;Profit and loss account&#8221; correct=&#8221;option1&#8243;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-57587","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.2 (Yoast SEO v23.3) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The bad debts that have been written off, if recovered subsequently then they are credited to<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/exam.pscnotes.com\/mcq\/the-bad-debts-that-have-been-written-off-if-recovered-subsequently-then-they-are-credited-to\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The bad debts that have been written off, if recovered subsequently then they are credited to\" \/>\n<meta property=\"og:description\" content=\"[amp_mcq option1=&#8221;Debtors account&#8221; 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