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Answer Posted / deepak thuttagunta
Debtor :in credit basis (sales) K&K company sell to other
J&J company at the time of J&J is debtor to K&K
Entry:in K&k books
j&j A/c Dr ****
Tosales ****
(sales done on credit basis)
Note:always Sales to customers is not a debtor and alwas
purchases form Vendor is not creditor.
Bank A/c dr ****
ToJ&J A/c *****
(if he paid or more than outstanding paid than
J&j will be creditor)
creditor: In credit basic (purchase)from K&K
Entry: in J&J books:
purchase A/c Dr ****
ToK&k ****
(purchase on credit basis)
K&K a/c Dr *****
To bank a/c *****
(if J&J paid or more than outstanding paid than
K&K will be debitor)
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