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How can we calculate creditors payment period?
Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2) Average Creditors / Credit purchases = '?' x 360 = '?' ex. Average Creditors / Credit purchases = 50 000 / 120 000 x 360 = 0.4166 x 360 = 41.7 (average creditors = Creditors at the biginning of the year + creditors at the end of the year divided by 2)
How do you get your creditors list?
You can get a list of your creditors by checking your credit report. Most of all creditors will report to the agencies and will have a record.
What are Creditors for goods?
They are the people who credit others
What side of ledger is payment to creditors?
credit
Who is called sundry creditors?
When company purchases materials from different vendors on credit, those combined creditors are called sundry creditors.
What credit score of the three do creditors use?
When you have all three credit scores pulled, most creditors look at the middle score. If you have onloy two credit scores pulled, they will use the lowest one.
Is there a letter to send to creditors for credit repair?
yes
What is sundry creditors on debit and credit side?
middle
Can creditors remove their accounts from your credit report?
no, it should stay on your credit report for life.
Why creditors use accounting information?
Creditors want to evaluate before granting credit to company that will company be able to return back credit when maturity time arrives.
When do creditors arise?
Creditors arise when an individual or organization lends money or extends credit to another party, creating a legal obligation for the borrower to repay the debt. This relationship is typically established through a loan agreement, credit card usage, or other financial transactions. Creditors have the right to collect the owed amounts according to the terms set in the agreement, and they may take legal action if the borrower defaults on repayment.
When it says paid creditors what does that mean?
"Paid creditors" refers to the process of settling debts owed to individuals or institutions that have provided credit or loans. When a company or individual pays their creditors, it means they have fulfilled their financial obligations by making the required payments, which can include principal and interest. This action helps maintain good creditworthiness and financial relationships.
