Post by jimmy2112 on Jul 14, 2012 8:09:24 GMT -5
A company has some liabilities in the PFY, say he owes Rs. 50,000/- to a creditor. This amount has been reflected in the balance sheed as amount payable to the creditor. This year due to some reason, he need not pay the creditor a single penny, meaning he is now not liable to pay anything. How do we adjust or write off this figure in this FY.
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San Francisco Chapter 7 Bankruptcy Attorney
San Francisco Bankruptcy Attorney