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Advances from customers
Hello. I have a question that we in our business receive advance from customers, and as such, please let me know under which head it is to be categorised. Sundry creditors with sub group advance from suppliers or sundry debtors.
Replies (4)
It should be shown under the current liabilities
I guess subdry debtors with sub grp advance from customers
I think Revant is right, it is to be grouped under current liabilities
dear imran , u should concentrate on basic first . creditor is a liability n debtor is a asset
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