goods in transit a debtor(customer) could also be a supplier(creditor)
Overpayment Payment in advance Credit note issued Deposit received
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.
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
goods in transit a debtor(customer) could also be a supplier(creditor)
Overpayment Payment in advance Credit note issued Deposit received
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.
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 a credit balance in a vendor subsidiary account an unpaid balance owed?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
The debtor is posted on the credit side of the balance sheet.
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
Is a credit balance in a vendor subsidiary account an unpaid balance owed?
The Fees Earned account has a credit balance. This means that you credit the account to increase the balance, and debit the account to decrease the balance.
A liability account normally has a credit balance.