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
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Sundry debtors sundry creditors in balance sheet debit credit doubt
Replies (3)
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
if you pay to your creditor it will recorded in debit side of the creditors a/c
Sundry debtors will come under CURRENT ASSET.
sundry creditors will be shown under current liability side.
sundry creditors will be shown under current liability side.
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 .
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