Answer Posted / suvabrata sarkar
When Materials purchased on credit then the material
supplier is called "Debtor" :
Exp. Materials ( Furniture / Raw Material) Purchased on
credit:-
Sundry Debtors a/c............................. Dr.
To Materials (Furniture / Raw Material a/c
When cash/ cheque paid to him:
Cash/ bank a/c ..............Dr
To Sundry Debtors a/c
Sundry Debtors shown in the assets site of Balance Sheet.
| Is This Answer Correct ? | 71 Yes | 64 No |
Post New Answer View All Answers
What was your average accounts receivable days outstanding/days sales outstanding?
What qualification do you need to become an accounting professional?
Purchase Goods worth rs.1000/ icluding vat of rs 40/ & Service charge receive 1000/ including service charge rs 123.60/ What will be entry in Tally? Please Define me?
can we change date in tally.erp s/w in educational mode ?
any one provide me mm & fi configration steps
describe the rule of garner vs murray and how it relates to the dissolution of a partnership
export sales contract and domestic sales contract? india's trade in commercial services?
WHETHER WE CAN BOOK ALL PRELIMINARY EXPENSES, INCLUDING ACCESSORIES RELATED TO PURCHASE OF A NEW VEHICLE TO CAPITAL EXPENDITURE?
over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured
give 3 reasons why capital is referred to as a special liability
have you ever been involved in an invoice dispute? How did you manage the problem?
What do we mean by Redemption of shares and debentures?
What other careers are you considering?
what are the basic elements to prepare a quarterly information system and how to calculate that items?
Define public accounting?
