Transfer debtors & creditors from sole proprietors to private limited

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student
127 Points Posted on 21 August 2023

a person was working under sole proprietorship. however now he incorporate a private limited and transferred his business there. can he transfer debtors / creditors to the private limited by passing a journal entry in the name of private limited?

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On 21 August 2023 at 11:03 Report
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Quick Summary
This discussion explores the process of transferring debtors and creditors when a business transitions from a sole proprietorship to a private limited company. The core question is whether a simple journal entry suffices or if specific procedures are required. Participants are seeking guidance and practical advice on navigating this transition.

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Profession
28261 Points Posted on 21 August 2023
There are specific procedures for it..
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On 21 August 2023 at 19:33
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student
127 Points Posted on 22 August 2023

please can you elaborate or share me an article from where I can get an idea of such procedure.

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On 22 August 2023 at 09:52
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Profession
28261 Points Posted on 29 August 2023
Not an article . inbox your mail id sharing your mail id or number. we can discuss.
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On 29 August 2023 at 10:04

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