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what is book debt and where is it kept in final accounts? thanking you sir

asked May 6, 2014 in Terminology in Accounts by lhakpa gyalzen (6 points) 6,960 views

1 Answer

0 votes
Book debts simply means those amounts which are owed to us by our customers on account of supply of goods or services on credit.  Normally it is considered to be  a current asset, means the debtor is liable to make us payment within a period f 12 months.  It is shown on the Asset Side of Balance Sheet.
answered May 6, 2014 by jbsclasses (3,971 points)