Answer Posted / anupam kumar

I think there is a minor correction needed to this answer.
The entry should be.
Credit purchase-purchase Dr to Creditor.
Cheque issued to creditor-Creditor Dr to Bank.
Cheque returned-Bank Dr to Creditor.
Cheque issued again-Creditor Dr to Bank.

Provision of Bad Debts is made in compliance with the convention of -----------

1934

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What's the meaning of Preferential Creditor?

2291

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1124

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2388

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2144

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describe how accuracy in trial balance is a prime objective for preparing the financial statements?

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