Current Liability
Liability
Yes, it is a current liability.
creditor is a liabiliity
liability
Trade Debtors or Sundary debtors or accounts receivable is the person(s) to whom you sold goods on credit and agreed to receive payment in future.
liability
Payment to the creditors Creditors Decrease Bank balance decrease
Creditors in a balance sheet, are the companies, people etc... that you owe money to. They could be utilites, materials purchased, or anything that you have not yet paid for, but have received. This is the opposite of Debtors - people that owe you money.
Sundry creditors created when goods purchased on credit and it is normally for short term credit that's why it is current liability.
Any money you owe to someone else is a liability to you and an asset for them. You have to pay (liability) and they get to receive (asset).
indicates an increase in the amount owed to creditors.