liquid asset
[Debit] Allowance for debtors account [Credit] Accounts receivable account
yes It is an Asset, not a Liability.
Debtors is part of current asset and shown there in balance sheet.
Asset
liquid asset
[Debit] Allowance for debtors account [Credit] Accounts receivable account
yes It is an Asset, not a Liability.
Debtors is part of current asset and shown there in balance sheet.
Asset
Accounts receivable is that amount which is receivable from debtors at future date that's why it is current asset of business.
Examples of current assets are cash(in hand or at bank),
Liquid assets are those assets which can immediately be converted in cash in emergancy basis so in liquid assets noramlly inventory is also not included as well as debtors.
No, debtors are not assets; they are liabilities. Debtor refers to someone who owes money to another party. In accounting, debtors are recorded as accounts receivable, which is an asset. However, from the perspective of the debtor themselves, the amount they owe represents a liability, not an asset. Assets are resources owned by a person or company that have economic value and can be used to generate future benefits. Liabilities, on the other hand, represent obligations or debts owed by a person or company to others.
Debtors in asset-based lending transactions sporadically deliver reviews regarding inventory, A/R and accounts due, together with regular financial claims.
Accounts receivable also known as Debtors, is the money owed to a business by its clients (customers) and reported as an asset in balance sheet.
assets- buiding,machinery,goodwill,plant,land,debtors,bills recievables,accounts recievables,investments,cash,prepaid expenses.