--%>

Define the term Debtor

Define the term Debtor. Is they our client?

E

Expert

Verified

Debtor is our client. We sell the goods to him on credit. When we sell him goods with cash or cheque or credit card, then there is no requirement to open debtor account in books. Debtor’s closing balance is as well our current asset and it is shown in balance sheet’s asset side. This is as well mention in current asset whenever we compute working capital for maintains superior working capital management.

   Related Questions in Financial Accounting

  • Q : Prepare relevant ledger accounts

    Journalize the below transactions, prepare relevant ledger accounts and finally trial balance. . XYZ Pvt Ltd 01.01.2009 Started business

  • Q : Case study of an economic and labour

    The woman in the dark suit (serious women always wear black suits) leafed through the papers on her desk. She was a fund manager and she was nearing the deadline for an investment decision by one of her leading clients, who wanted to invest in sovereign bonds in a dev

  • Q : Comprehensive Project Please help me in

    Please help me in solving this requirement

  • Q : History of Holding Period Describe the

    Describe the History of Holding Period in brief?

  • Q : European term bid-ask quotes Restate

    Restate following one-, three-, and six-month outright forward European term bid-ask quotes in forward points. Spot               1.3431-1.3436

    Q : Psychological Health Psychological

    Psychological Health: The employees have noted in their survey feedbacks that their peer relations are based on trust and are healthy. But the nature of work is such that they see lot of suffering. Their interaction with clients at times is not health

  • Q : Type of bond instrument You are an

    You are an investment banker who is advising a Euro bank about the new international bond offer it is considering.  Proceeds are to be used to fund Eurodollar loans to the bank clients.  Specify the type of bond instrument you would recommend that bank shoul

  • Q : Causes of decreasing of Gross profit

    What are the various causes of decreasing of Gross profit margin?

  • Q : What are equipment expenses What is

    What is equipment expense or what are equipment expenses?

  • Q : Methods handling translation gains and

    How translation gains and losses are handled differently as per current rate method as compared to the other three methods, which is, monetary/nonmonetary method, current/noncurrent method, and the temporal method?