The double entry system

2012-01-22 8:56 am
The proprietor paid a creditor, M fan,from his private monies outside the firm.
用私人積蓄還債即係??
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THX!!!

回答 (1)

2012-01-22 6:54 pm
✔ 最佳答案
As the money had been paid to the firm's creditor, there will be no amount due to the creditor. Rather, the firm is borrowing the money from the proprietor for this settlement. The entries are

Dr. Trade Creditor Cr. Proprietor's Account

- Being the trade debt due to M Fan now being settled by the proprietor.


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