what is credit limit ?
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Answer / bhaskar rao
credit limit given to cutomer as per customer turnover to
improve the sale of any company.(Totally depend on any
company credit policy.)
| Is This Answer Correct ? | 13 Yes | 2 No |
Answer / jayalakshmi
Credit limit given to customer as per turnover during the
period of 3 months not on the total turnover . Based on his
preceding sales and payment received .
| Is This Answer Correct ? | 3 Yes | 2 No |
Answer / srikant sahu
credit limit is totally depanded on creit limit policy of company.next thing is depanded on the management to how much giving credit for a prticular.
| Is This Answer Correct ? | 0 Yes | 0 No |
State with reason which account should be debited and which account should be credited in each of the following transactions: 1. Raj commenced business with cash Rs. 5000 2. Bought goods from Kiran for cash Rs. 1000 3. Sold furniture to Ravi on credit Rs. 500 4. Sold goods for cash Rs. 800 5. cash purchases Rs. 600 6. Bought Stamps Rs. 10 7. Withdrew cash from the business for personal use Rs. 1000 8. Paid salary to manager Rs. 500 9. Paid rent to landlord Rs. 200 10. Received commission from Mani Rs. 50 11. Paid for repairing machinery Rs. 30 12. Received cash form Ravi on account Rs. 400 13. Gave loan to Babu Rs. 500 14. Purchased goods from Sachin Rs. 400 15. Opened a bank account with Rs. 1000 16. Charged Mohan Rs. 50 commission for service rendered to him 17. Santosh paid the interest on loan advanced to him 18. Received loan from Manju Rs.10000 19. Office furniture stolen Rs. 500 20. Paid income tax Rs. 5000 21. Paid life insurance premium Rs. 300 22. Allowed discount to Babu Rs. 90 23. Discount received from Santosh Rs. 150 24. Amount charged by bank as bank charges Rs. 30 25. Railway fright paid on machinery purchased Rs. 100
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