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Can creditors account have debit balance?

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


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


Format for Debtors control account and creditors control account?

debtors


Can creditors garnish my savings account?

Yes


Can creditors take a lien on your bank account?

NO!


How do you find the amount that i owe each account on an account payable?

Contact your creditors.


What is the methods of internal control account debtors and creditors?

ahshshj


What are advantages to creditors in case of note receivable than ordinary account receivable?

what are advatages of note receivables discounted to creditors


What is the process for opening a joint account that requires two signatures?

To open a joint account that requires two signatures, both account holders must visit the bank together, provide identification and complete the necessary paperwork. Both individuals will need to sign the account agreement and any other required documents to finalize the account opening process.


Does the stimulus package include a clause which requires creditors to lower rates for qualifying account holders?

If you are referring to mortgage creditors and to the home loan modification and refinancing schemes of the stimulus package, may I refer you to the FAQ section of the MakingHomeAffordable web site. The creditors are not required to modify loans. Loan modification is voluntary on their part. They are just being encouraged by the government to modify loans; that's why the program is giving out incentives of $1,000 per loan modified, plus additional incentives if the borrower keeps up with the payments. If the bankruptcy reform is later passed by the Senate this month or next month, then lenders could be forced to modify loans for borrowers in bankruptcy.


Where do creditors go on a profit and loss account?

I'm a student myself but i don't think that you have to use creditors in a trading, profit and loss account....i think it's given for the balance sheet that you have to make after the trading, profit and loss account.


A credit to a liability account?

indicates an increase in the amount owed to creditors.