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What else can I help you with?
What is the difference between debtors and sundry debtors?
why debtors and creditors are called as sundry? Debtors = In general business terminology means Customers to whom the goods are sold on credit. Sundry = Various Therefore Sundry Debtors means Debtors for various reasons and not merely for Credit Sales.
What does an attorney dealing with creditors' and debtors' rights do?
Attorneys deal with consumer credit regulation, including attachments, garnishments, assignments for the benefit of creditors, judgments, and bankruptcy.
What are Trade Creditors?
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.
What is company debtors and creditors?
Company debtors are individuals or entities that owe money to the company, typically due to credit sales or services rendered. Conversely, creditors are individuals or entities to whom the company owes money, often arising from loans, purchases made on credit, or other obligations. Managing debtors and creditors is crucial for maintaining cash flow and ensuring financial stability within the business. Proper tracking and management of these accounts can significantly impact a company's financial health.
Can creditors remove their accounts from your credit report?
no, it should stay on your credit report for life.
Would you use a purchase day book or sale day book for a debtor?
Debtors are created when company sale goods to customers on credit that's why for debtors sales day book is used and purchase day book is used for creditors.
Formula for calculation for debtors credit period?
average debtors/credit sales X 365
Different between credit control and salesperson?
Credit Control is the part of business which is responsible for negotiation with creditors and receiving debt timely from debtors. However, a sales person is only responsible for marketing and selling the company products.
Who would have made it easier for debtors to pay their creditors?
Historically, figures like bankruptcy reform advocates and economists promoting debt relief measures would have made it easier for debtors to pay their creditors. Legal reforms, such as those introduced in bankruptcy laws, aimed to provide structured repayment plans and protections for debtors. Additionally, financial educators and non-profit organizations offering credit counseling services have played a significant role in helping debtors manage their debts effectively.
How do you treat refund to debtors in the debtors control account?
decrease with a credit
Why a creditors prefer the debtors who sign a note receivable?
Creditors prefer it because in this way they don't have to wait until the end of credit period time for their money to be received instead of that they get the note receivable and they can use that note in case of emergency to fulfill their needs.
How do you calculate credit sales?
the formula is: money recived from debtors during the year 5000 + debtors at the end of the year 3000 - debtors at the start of the year (1000) ________ credit sales = $7000
