Since all debtors are good, the existing Provision for Doubtful Debts is no longer needed and is written back. Entry: Provision for Doubtful Debts A/c Dr. To Revaluation A/c. Thus Revaluation A/c is credited (gain), which matches option 4.
What would be the effect of the line "All Debtors are good.
Held on 23 Aug 2022 · Verified 13 Jul 2026.
Provision for Doubtful debt is Debited to old partner Capital A/c
Provision for Doubtful Debt is Debited to Revaluation Account
Provision for Doubtful Debt is Credited to old partner's Capital A/c
Provision for Doubtful Debt is Credited to Revaluation Account
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