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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
What is creditor account with debit balances?
A creditor is an entity that a company owes money to, such as debt to a bank or bondholders. If a creditor has a debit balance, it means that your company paid more than they owed. If there was a credit balance, you would owe money on that account.
What is sundry creditors on debit and credit side?
middle
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
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
What is creditor account with debit balances?
A creditor is an entity that a company owes money to, such as debt to a bank or bondholders. If a creditor has a debit balance, it means that your company paid more than they owed. If there was a credit balance, you would owe money on that account.
What is sundry creditors on debit and credit side?
middle
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
Who is debtor and who is creditor?
debit and credit boi
Does cash on hand have a debit or credit balance?
credit
Is withdrawal a debit or credit balance?
it is a debit balance because it decreases owner's equity, which has credit balance.
How do you double entry when your debtor has paid your creditor for you?
credit the debtor and debit the creditor
Is a premises an credit or debit?
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
Does assets account have a debit balance or a credit balance?
debit
Is purchases a normal debit or credit balance?
debit balance
What type of account is the sundry creditors?
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
