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) 10,719 views

1 Answer

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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)