Truth in Lending Law
creditors have debit balances as advances receive from creditors..........
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
debtors
ahshshj
what are advatages of note receivables discounted to creditors
creditors have debit balances as advances receive from creditors..........
Unanticipated inflation erodes the real value of money, which benefits borrowers as they repay loans with money that is worth less than when they borrowed it, while creditors receive payments that have diminished purchasing power. Conversely, creditors are hurt because the real return on their loans decreases, reducing their overall earnings. By anticipating inflation, both parties can adjust their interest rates and loan agreements accordingly, helping creditors protect their returns and allowing borrowers to negotiate terms that account for expected price increases, thus minimizing negative impacts.
sundry creditors is a personal account. the rule applying would be debit the reciever, credit the giver
debtors
Yes
NO!
Contact your creditors.
ahshshj
what are advatages of note receivables discounted to creditors
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.
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.
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.