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How to create Sundry Creditors and Sundry Debtors Aging
analysis.
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Answer Posted / dasappa.s
When a company purchased a material or goods on credit basis
then creditors will arise and for debtors vice versa. The
pending amount from the Dr or Cr will be given some period
to pay that is aging period and on this the aging analysis
will be prepared according to payments maid by Dr or Cr
The creditors should show Liabilities said in Balance sheet
and Debtors in Assets said of the Balance sheet
Journal Entry
For Creditors
Credit Purchase A/C Dr
To Cash/seller A/C
For Debtors
Cash A/C Dr
To credit sales A/C
| Is This Answer Correct ? | 28 Yes | 2 No |
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