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What is the source document for the debtors journal?
Credit note
What is journal entry for allowances to debtors?
[Debit] Allowance for debtors account [Credit] Accounts receivable account
What will be the journal entry for sundry debtors 1000?
sundry debtors A/c........DR 1000 TO Sales A/c 1000
What is the source document for debtors allowance journal?
Credit note
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
What is the source document for the debtors journal?
Credit note
What is journal entry for allowances to debtors?
[Debit] Allowance for debtors account [Credit] Accounts receivable account
What will be the journal entry for sundry debtors 1000?
sundry debtors A/c........DR 1000 TO Sales A/c 1000
What is the source document for debtors allowance journal?
Credit note
What is Journal entry for provision for debtors?
No entry for opening debtors these are just transferred from previous period to current period.
What is the general ledger journal entry for a refund?
Cash a/c to debtors a/c
Journal entries for bad debts?
bad debts a/c Dr To sundry debtors a/c
What are the aims of debtors journal?
The aims of a debtors journal are to systematically track amounts owed by customers, monitor payment deadlines, and manage credit risk effectively. It helps businesses maintain accurate records of outstanding debts, facilitating timely follow-ups and collections. Additionally, it provides insights into customer payment behavior, aiding in financial planning and decision-making. Overall, the debtors journal is essential for maintaining cash flow and ensuring financial stability.
How do you pass entry for payment received from debtors in journal as well as in payment?
debit cash / bankcredit accounts receivable
What is the journal entry of Advance received from debtors?
Debtors are those customers who purchase goods from company on credit so no advance can be issued by debtors. on the other hand advance can be received from customers and accounting entry is as follows: [Debit] Cash / bank [Credit] Unearned revenue
What is the journal entry for amount received from debtor after sales?
debit cashcredit accounts receivable
What is the format for the debtors allowances journal?
The debtors allowances journal typically includes columns for the date, debtor's name, invoice number, details of the allowance, amount of the allowance, and a running total of the remaining balance owed by the debtor. Each entry records the specifics of adjustments made to accounts receivable, such as discounts or returns. This journal helps businesses track allowances granted to customers and maintain accurate financial records.
