Creditors

A creditor is a current ___ to an enterprise.

• asset

• liability

• customer

A liability that is repayable within a short time period is called a ...

• purchase on account

• current liability

• short term liability

Returns to creditors transactions are recorded in the ...

• Creditors' allowance journal

• Debtors' allowance journal

• Creditors' returns journal

• Debtors' returns journal

A businesses Creditors Control Account is a/an

• asset

• liability

EFT Payment Advice is

• a source document for payments

• advice on EFT payments from the bank

• advice on EFT payments by the business

• a source document for advice on payments to a company

Credit Sales are recorded in the

• creditors journal

• debtors journal

Credit purchases are recorded in the

• Creditors Journal

• Debtors Journal