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How would you define money?

Money is any medium that is universally accepted in an economy by sellers of goods and services as payment and by creditors as payment for debts.


Define the fundamental assumption of the roosevelt Corollary?

It assumed that if a crisis occurred, there would be an invasion. The creditors to Venezuela would get upset and try to take over.


Examples of creditors ledger and a creditors journal?

creditors journal


What is creditors circularization?

creditors' circulization


Can creditors account have debit balance?

creditors have debit balances as advances receive from creditors..........


What does a creditors clerk do?

duties of a creditors clerk


Why a business need creditors?

Why a business have creditors


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.


How can pass sundry creditors journal entry?

Purchases A/c -Dr 5000 To Sundry Creditors 5000


Who is called sundry creditors?

When company purchases materials from different vendors on credit, those combined creditors are called sundry creditors.


What meant by sundry creditors?

When amount from more than one small creditors are join and shown together it is called sundry creditors.