are accounts receivable or those who owe money to us
Its verry simple .in simple words companies money go outside. So it will come on liability side
Sundry Debtor is a person who bought goods or received service from us (Customer) Sundry Creditor is a person whom we received the goods are service (Our Vendor)
sundry creditor shows credit balance
sundry debtor is whom they baught goods on credit basis
It is the company expenses.
personal a/c
Sundry creditor is current liability.
If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtors.
refers to companies or individuals to which money is owed.
Sundry creditors created when goods purchased on credit and it is normally for short term credit that's why it is current liability.
Current Liability = sundry creditor+bank overdraft+ expenses payable+provision for tax,divident
You may have a category of sundry, or miscellaneous, creditors on the books for occasional or small vendor relationships, rather than setting up a separate vendor account for these infrequent...If we provide some services to the vendors they are paying for our services therefore the person who are paying us becomes our sundry debtorssundry creditor shows credit balance.
sundry creditor capital account fixed assest bank account profit and loss