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Debit balance of capital creditors
Dear All,
Wanted to know the accounting entries as per IFRS
We have one creditors from whom we purchase capital assets. Now due to some misunderstanding we have paid twice for one bill. Now it is shows as debit balance. he not ready to reapy back and we close the business with him.
Now wanted to write off the account. Pls suggest entries as per IFRS
Replies (2)
if it is truly paid twice recovery from the vendor, if he is not agree for repayment go head with leagal procedure with proof of double payment.
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