Sundry debtors sundry creditors in balance sheet debit credit doubt

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MPR Sanjay Kumar

3145 Points Joined November 2020

DEAR CHARTERED PERSONS

QUERY 1:

Generally in balance sheet under Current asset sundry debtors is shown on that DEBIT means what ?? CREDIT means what ???

suppose I am not receiving the amount from my debtors means which side it will show???

and I am receiving the amount means which side it will show

generally what represents debit and credit side in sundry creditors and sundry debtors please explain me

QUERY:2

sundry creditors DEBIT and CREDIT side

if I want to payable my creditor means which side it will show??

if I paid means which side it will show

please I need clear clarification above this

Replies (3)

Atharv Sankliya

1359 Points Joined October 2021

If your are receiving money from your debtor it is recorded in credit side of debtor a/c and the balance remaining (if any) in shown as receivable under current assets until it is fully repaid to you

if you pay to your creditor it will recorded in debit side of the creditors a/c

sabyasachi mukherjee

27912 Points Joined May 2017

Sundry debtors will come under CURRENT ASSET.
sundry creditors will be shown under current liability side.

NARENDRA

ACCOUNTS MANAGER

2186 Points Joined December 2012

1} Debit Means Receivable & Credit Means Payable as far as concerned about the Debtors & Creditors

2} If you are not receiving the amount , the debit balance will remain debit which comes under Sundry Debtors . & if you are receiving the amount will reduce the debit balance of debtors.

3} As already mentioned in point No. 1

4} Vice a versa - Credit & creditors are exactly opposite of Debit .