General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund. Bad debt expense: Bad debts are those debts or receivables which are no longer collectable due to customer’s insufficient funds or any other reasons. Bad debts are mostly written off from the sales and bad debt expense is created in profit & loss statement. The effect of bad debt expense in general fund account.

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Chapter 17, Problem 17.18.34P

To determine

Introduction: General fund is the primary fund maintained by the companies for recording all inflows and outflows except which are associated with the special purpose funds. It is mostly the difference between assets and liabilities of the company’s fund.

Bad debt expense: Bad debts are those debts or receivables which are no longer collectable due to customer’s insufficient funds or any other reasons. Bad debts are mostly written off from the sales and bad debt expense is created in profit & loss statement.

The effect of bad debt expense in general fund account.

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