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goods in transit
a debtor(customer) could also be a supplier(creditor)
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∙ 11y ago
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When the debtors account shows the credit balance?
When business receives money in advance....
What is sales ledger control account?
Sales control account is a summary of transactions relating to the debtors balance.the debtors ledger account is debited when there is an increase of the debtors balance and credited when there is a reduction of the debtors balance
Is sundry debtors have debit or credit balance?
Sundry Debtors always have Debit balance, if it is showing credit balance ie, Advance paid by Sundry debtors or your customers, if you are given discount after making the invoice, or excess payment done by your customers then the Sundry Debtors balance will be Credit. Regards, Ajish
Is trade debtors a debit or credit transaction on the trial balance?
credit
What is journal entry for allowances to debtors?
[Debit] Allowance for debtors account [Credit] Accounts receivable account
When the debtors account shows the credit balance?
When business receives money in advance....
What is sales ledger control account?
Sales control account is a summary of transactions relating to the debtors balance.the debtors ledger account is debited when there is an increase of the debtors balance and credited when there is a reduction of the debtors balance
What account is the branch account under debtors system?
branch debtor account is an account prepaid when the branch sell goods or credit. it necessary for recording all transctions concerning branchdebters and for acertaining the balance of debtors at branch
Is sundry debtors have debit or credit balance?
Sundry Debtors always have Debit balance, if it is showing credit balance ie, Advance paid by Sundry debtors or your customers, if you are given discount after making the invoice, or excess payment done by your customers then the Sundry Debtors balance will be Credit. Regards, Ajish
How do you treat refund to debtors in the debtors control account?
decrease with a credit
Is trade debtors a debit or credit transaction on the trial balance?
credit
What is journal entry for allowances to debtors?
[Debit] Allowance for debtors account [Credit] Accounts receivable account
Where is posted the debtors?
The debtor is posted on the credit side of the balance sheet.
How you record a credit sales?
credit your stock for stocks going out of the account debit the debtors for stock going into his account
When does accounts receivable have a credit balance?
If an account has a credit balance the customer must have overpaid on their account or a credit was issued by the company and posted to the customers account, resulting in a credit or negative balance.
What does the final balance on a sales ledger control account represent?
it represents the amount that trade receivbles owe to the business at the end of the financial period (dr balance) credit balance represents the amount that the business owe to the debtors (minority balance)
Is a Credit balance in vendor subsidiary account is an unpaid balance?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
