As on the date of creating financial statements, the total accounts receivables are shown under the current asset section of the balance sheet as bills receivables, sundry debtors, trade receivables etc. The sample format of accounts receivables in the balance sheet is shown below: Accounts ...
What do sundry creditors and sundry debtors mean?Question:What do sundry creditors and sundry debtors mean?Credit Purchases:Credit purchases refer to the purchase of goods and services on account, which result in the postponement of the payment for the goods and services, as an extension is provi...
An amount from profits that has been put aside in a companys accounts to cover a future liability is called a provision.Entry for recording actual bad debt which did not record in books of business 1. Bad debts account Dr. xxxxx To Sundry Debtors Account xxxxxx Entry for transferring bad d...