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what is sundry debtors and creditors?
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Answer / munikrishna.v
Sundry Debtor is a person who owes money to the bussiness.
i.e amount of bussiness transaction due from a person to
the bussiness.
Sundry Creditor is a person to whom the bussiness owes
money.
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Answer / krishna
company sells goods on the debt basis,who takes company
goods on debt basis those persons called sundry debtors.
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I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
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