--%>
Assignment Help - homework help

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 : Accounting Treatment of Expenditures

    Describe the term Accounting Treatment of Expenditures? Why it is used.

    		•
  • Q : Define Asset Purchase Asset Purchase :

    Asset Purchase: Agreement between seller and buyer to obtain an organization's assets. In an asset purchase, only particular assets transfer ownership from seller to the buyer. Assets should be re-titled to the latest owner who has the capability to d

    		•
  • Q : Policy issued by upper management What

    What would you do when upper management issues a new policy and it was problematic to you? Would you pursue the new policy?

    		•
  • Q : Case study of harvesting a tree

    Recently, a friend accused her neighbor of harvesting a tree (sapling of balsam fir, Abies balsamea) from her land without permission. Her neighbor claims that he bought it from a Christmas tree plantation (growing in a clearing down the road).  Your friend says

    		•
  • Q : Asset-allocation funds Mutual funds

    Mutual funds that hold both bonds and stocks. Some asset-allocation funds follow specified allocation percentages and others take advantage of current condition. Those that take advantage of current condition is higher risk, because the fund manager tries to adjust the allocations to take advanta

    		•
  • Q : Goals of Social Democrats What were the

    What were the goals of Social Democrats? What did Anarchists want?

    		•
  • Q : Foreign commerce trade State three

    State three basic documents which are essential in order to conduct the typical foreign commerce trade?  Discuss briefly the purpose of each.

    		•
  • Q : Describe JOC in accounting Describe JOC

    Describe JOC in accounting?

    		•
  • Q : Japanese investments in the Southeast

    Japanese MNCs, like Toshiba, Toyota, Matsushita, and so on, made extensive investments within the Southeast Asian countries such as Malaysia, Thailand, and Indonesia. State your opinion, what forces are making Japanese investments within the region?

    		•
  • Q : Determinants of operating exposure

    Describe determinants of the operating exposure.

    		•