Credtiors Balance,s Show in Dr. Side
This query is : Resolved
03 October 2022
Dear Sir,
Few Sundry Creditors balances show in Dr. Side in books of accounts as on 31.03.2022 because we have paid advance for purchase of Goods. So needs to Pass the entry in books of accounts so Creditors balance not Show in Dr. Side
Entry in books of accounts as on 31.03.2022
for example advance to ABC Sons ( Balances as per books) Dr. Current assets
ABC Sons Cr.
Entry in 01.04.2022
ABC Sons Dr.
Advance to ABC sons Cr.
Few Sundry Creditors balances show in Dr. Side in books of accounts as on 31.03.2022 because we have paid advance for purchase of Goods. So needs to Pass the entry in books of accounts so Creditors balance not Show in Dr. Side
Entry in books of accounts as on 31.03.2022
for example advance to ABC Sons ( Balances as per books) Dr. Current assets
ABC Sons Cr.
Entry in 01.04.2022
ABC Sons Dr.
Advance to ABC sons Cr.
03 October 2022
Yes pass the above entries you are right.
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