What is the journal entry for sundry debtors

Answer Posted / kunal goswami

so when you sell something and you will receive money from others = sundry debtors and when you purchased something and you have to pay them back = sundry creditors

so for example *purchased goods from X on credit*
transaction should be
purchase a/c ..............dr to sundry creditors a/c

sold goods to X on debit
transaction should be
sundry debtors a/c.............dr to sales a/c

sales a/c always comes under credit and purchase a/c always comes under debit

Is This Answer Correct ?    2 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

How do you build a successful business relationship?

639


Assuming that a firm pays tax at a 50 per cent rate, compute the after tax cost of capital in the following cases: I. A 8.5 % preference share sold at par. II. A perpetual bond sold at par, coupon rate of interest being 7 per cent III. A ten year, 8 percent, Rs.1000 par bond sold at Rs.950 less 4 percent underwriting commission.

2867


please send me banking question on my email ID as I have been selected for state bank of india .my email ID is sawant.supriya51@gmail.com

1463


Contrast bookkeeping and accounting

605


Why Company maintain's books of account?

1355






What can be done incase of excess payment of TDS Remittence than the actual amount? Is there any adjustment towards the excess amount with the upcoming TDS payment? Reference of last quarter challan should be shown while adjusting in next quarter?

1075


What steps would you take to locate the errors in case trial balance disagrees?

615


explain me what steps would you take to increase revenue for this company?

576


What is cotangent Account?

1552


Tell me what do we mean by purchase return in accounting?

580


why only 6 months interest is charged on drawings

1717


How much mathematics knowledge is necessary or required in accounting?

610


which type of questions did HR Manager ask and what are the answers

1653


what is profit maximisation

1638


WHY CST CHARGED BILLS ARE RETAIL INVOICES.IT CANT BE TAX INVOICE.

1655