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The ledger of XYZ Company at the end of the current year shows Accounts Receivable Tk. 90,000, Sales Tk.800,000 and Sales returns and allowances Tk.40,000.
The ledger of XYZ Company at the end of the current year shows Accounts Receivable Tk. 90,000, Sales Tk.800,000 and Sales returns and allowances Tk.40,000. Instructions: 3) Suppose, XYZ company collect from bad debt by Tk. 5,000 which was previously written off from accounts receivable. How the company journalize this recovery in its books of accounts.
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