Debtors are having Debit balance. What is Debtors with Credit Balance? Well, it is possible while accounting. I haven’t seen this concept in MNC accounting. In India, the most preferred software is Tally Accounting. Accountants are finalizing the books with this type of balance. And also saw, books are getting audited. Debtors with Credit balance are presented on the Liability side in the Balance Sheet. The problem is because of Module based accounting is not in place. And the transactions are accounted for through Journal entry is possible. A normal…
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