Accounting Question
Creditors are that person to whom the business owes a sum against the credit purchase. of goods and services.
Creditor Account
(January)
Debit Credit
|
Date |
Particular |
Amount ($) |
Date |
Particular |
Amount ($) |
|
|
To Cash (50% of Current month purchase) |
229,000 |
|
By Balance Brought Down |
97,350 |
|
|
To balance Carried Down |
326,350 |
|
By Credit Purchase |
458,000 |
|
|
|
555,350 |
|
|
555,350 |
Creditor Account
(February)
Debit Credit
|
Date |
Particular |
Amount ($) |
Date |
Particular |
Amount ($) |
|
|
To Cash (50% of Previous month purchase) |
229,000 |
|
By Balance Brought Down |
326,350 |
|
|
To Cash (50% of Current month purchase) |
266,625 |
|
By Credit Purchase |
533,250 |
|
|
To balance Carried Down |
363,975 |
|
|
|
|
|
|
859,600 |
|
|
859,600 |
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