The true option on the amount due from the customer who was billed last month is debit cash and credit accounts receivable. Option D
What is meant by credit accounts receivable?Credit accounts receivable refers to money that a company is owed by its customers for goods or services that have been sold on credit.
When a company sells goods or services on credit, it allows customers to pay at a later date, rather than requiring payment upfront. In these cases, the company will record the sales as credit accounts receivable, which are listed as an asset on the balance sheet.
The company will then collect payment from customers at a later date, and the credit accounts receivable will be converted to cash. Hence the last option is the correct answer here.
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missing option
A. credit accounts payable and debit cash
B. credit cash and debit accounts receivable
C. credit cash and debit accounts payable
D. debit cash and credit accounts receivable
What are the characteristics of co_insuarance
Answer:Coinsurance is the amount, generally expressed as a fixed percentage, an insured must pay toward a covered claim after the deductible is satisfied. It is common in health insurance. Some property insurance policies also contain coinsurance provisions. In this case, coinsurance is the amount of coverage that the property owner must purchase for a structure.
KEY TAKEAWAYS
Coinsurance is common in health insurance and some property insurance policies.
In health insurance, coinsurance is the percentage under an insurance plan that the insured person pays toward a covered expense or service, after the policy deductible is satisfied.
One of the most common coinsurance breakdowns is the 80/20 split: The insurer pays 80%, the insured 20%.
A coinsurance provision is similar to a copayment provision, except copays require the insured to pay a set dollar amount at the time of the service, and coinsurance is a percentage amount of the overall cost.
The coinsurance clause in a property insurance policy requires that a home is insured for a percentage of its total cash or replacement value.
Explanation:
The choice of the brand of your company is not something that you should choose at random and simply because you like it. You must select a brand with which your customers will feel identified. However, loyalty to a brand is not a rational act, but an emotional one. Therefore, to know how a brand is made, you must bear in mind that what you must achieve is the customer's loyalty to it and that, in a medium / long term, that relationship is still alive.
1. Define your target audience.
It is impossible to please everyone. The products or services you offer will satisfy a specific type of needs, specific to a certain type of client. Define very well, through a segmentation of the market, the target audience your brand, to ensure good feedback and success.
2. Project an image according to your brand philosophy.
Your customers expect you to behave and act in a certain way. So it looks like your clients expect you to do it and do it in environments according to them. For example, your focus of action will not be social networks if your target audience is people over 65.
3. Unique and special customer.
We all like to feel special. So, if you want to know how to create a successful brand, a basic thing is to make your customers feel special for the simple fact of using your brand. That the client feels heard, valued and loved.
4. A brand that provides value.
To create a strong brand, it is essential that it offers some added value, that makes it unique and different from the rest of competing companies. For example, highlight customer service, after-sales service, return policy, etc. For this, the brand must present a value proposal that makes it different from the others, and for which the public chooses it against the competition.
The client must feel that by using your brand his life improves, that by using your products or services he obtains greater quality and satisfaction. Therefore, work for that differential point that makes your brand unique and special.
5. Keep the relationship alive.
You should not keep the same message forever. The needs of your customers are changing, as well as customs and social habits. So you must innovate in your message, you must create campaigns that attract new customers and keep working because your brand is identified as a powerful and differentiated brand.
6. Measure your performance.
Not only you must design and implement actions in order to enhance your brand. But you must measure the results of those actions. You will have established goals for both short, medium and long term: increase engagement, increase the conversion rate or increase the traffic of your website ... Set goals, measure and compare results. This way you can correct errors on time and improve your brand strategy.
A brand is any characteristic that sets one seller's good or service apart from that of other sellers. It might be a name, a term, a design, a symbol, or anything else.
Steps in creating a brandIdentify who your target market is.It's hard to win everyone over. Your offerings will meet a certain set of customer wants with a particular set of goods or services. To ensure positive feedback and success, clearly define your brand's target market through market segmentation.
Present a persona in line with your brand's guiding principles.Your clients anticipate certain behaviors and actions from you. Therefore, it appears that your clients anticipate you doing it and doing it in their preferred settings. For instance, if seniors over 65 make up your target market, social networks should not be your primary focus.
A distinctive and distinguished client.Everyone enjoys feeling unique. Making your clients feel unique simply for utilizing your brand is a fundamental step in learning how to build a successful brand. that the customer experiences love, respect, and hearing.
A brand that offers worth.It is crucial for a company to provide some added value in order to differentiate itself from other rival businesses and build a strong brand.
Maintain your connection.The same message should not be repeated indefinitely. As social norms and conventions change, so do your consumers' needs. Therefore, your message must be innovative.
Evaluate your effectiveness.In order to improve your brand, you must also plan and carry out actions. However, you need to evaluate the effects of those acts.
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Please help……………………………
Terrell Company reported the following data at the end of its first year of operations on December 31
Equipment
Accounts payable
Owner investments
Terrell, Withdrawals
Services revenue
Rent revenue
Salaries expense
Advertising expense
Utilities expense
$ 22,000
11,000
26,000
9,000
60,000
13,000
41,000
7,000
5,000
(a) Prepare its year-end income statement.
(b) Prepare its year-end statement of owner's equity, using net income calculated in part a.
Answer:
(a) Income Statement for the year ending December 31:
Revenue:
Services Revenue: $60,000
Rent Revenue: $13,000
Total Revenue: $73,000
Expenses:
Salaries Expense: $41,000
Advertising Expense: $7,000
Utilities Expense: $5,000
Total Expenses: $53,000
Net Income: $73,000 - $53,000 = $20,000
(b) Statement of Owner's Equity as of December 31:
Owner Investments: $26,000
Net Income: $20,000
Terrell, Withdrawals: $9,000
Total Owner's Equity: $26,000 + $20,000 - $9,000 = $37,000
Explanation:
Seaside County collects property taxes levied within its boundaries and receives a 1% fee for administering these collections on behalf of the municipalitieslocated in the county. In the year, Seaside collected $1,000,000 for its municipalities and remitted $990,000 to them after deducting fees of $10,000. In theinitial recording of the 1% fee, Seaside's custodial fund should credit
A Fund balance-agency fund, $10,000.
B Fees earned-agency fund, $10,000.
C Due to Seaside County general fund, $10,000.
D Revenues control, $10,000.
The correct answer is (B), Seaside's custodial fund should record the 1% charge initially with a credit. $10,000 in agency fund fees earned.
What does funds mean in business?A fund is a collection of funds put aside for a certain objective. To produce returns for its investors, funds frequently invest and use expert management. Retirement funds, insurance funds, foundations, & endowments are a few examples of prevalent sorts of funds.
Is fund a cash?While funds are a liability that may or may not be current, cash is indeed a current asset. Cash simply refers to money in its physical form, whereas funds include cash, credit, checks, kind, etc. The fund uses a more extensive strategy than cash.
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At year-end, companies that utilize accrual-based accounting systems complete the measurement process through
A. the preparation of an unadjusted trial balance
B. conversion to cash-basis
C. recording of adjusting entries
D. posting of non-cash transactions occurring during the year
Answer:
The correct answer is option C. At year-end, companies that utilize accrual-based accounting systems complete the measurement process through the recording of adjusting entries. Adjusting entries are necessary to ensure that the financial statements reflect the true financial position of the company, as they record non-cash transactions occurring during the year.
Malon plans to attend college and he starts having $200 per month to pay for it he will need $18,800 to pay for the first year cost his aunt gave him a special gift of $2000 to use sorta cost how many years will it take me long to save enough for the first year cost
Answer:
It would take you 7 years.
Explanation:
1st year》$200 per month × 12(months/ 1 year)= $2400......$2400 + $2000( gift from aunt)= $4400 ■ In the first yr Malon has made $44002nd yr》$200 × 12(months)= $2400 ■ $2400 + $4400(1st yr)= $68003rd yr》[The same as year 2] ■ $2400+ $6800 = $92004th yr》$2400 + $9200= $116005th yr》$2400+$11600=$14000$2400+14000=$16400 $16400+$2400= $18800☆☆☆Consider the following data:
x 3 4 5 6 7
P(X=x) 0.3 0.3 0.1 0.1 0.2
Step 1 of 5 : Find the expected value E(X). Round your answer to one decimal place.
Answer: The expected value E(x) for the given data is 4·6
Explanation: So we are given the value of x and P(X=x) as follows:
x = 3 4 5 6 7
P(x) = 0.3 0.3 0.1 0.1 0.2
The formula for the expected value for the given data is as follows:
E(x) = ∑ xP(x) , for all x
So,
E(x)= 3·(0.3) + 4·(0.3) + 5·(0.1) + 6·(0.1) + 7·(0.2)
E(x)=4·6
The expected value for the given data is 4·6
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What impact does time lag between the order and delivery cause on a product?
Jenny is from New Orleans and starts her own interior decoration business. She orders curtains and other drapery material from Malaysia. However, due to lack of valid documents, her consignment remains stuck with customs for three days.
This delay in the delivery of the curtains will directly affect the (BLANK) at which Jenny will now sell the product in the local market.
The delay in the delivery of the curtains will directly affect the price at which Jenny will now sell the product in the local market.
What is time lag?Generally, The term "time lag" is defined by the Britannica Dictionary. [Singular]: a lapse in continuity between two distinct but connected events (such as a cause and its effect) There is a delay between the moment you see a stop sign and the moment your foot actually makes contact with the brake pedal.
A delay or gap that occurs between two occurrences or activities is referred to as time lag. It is also possible to refer to the length of time required for a process or system to react to a change or input.
The term "time lag" comes from the world of finance and refers to the amount of time that passes between when interest rates shift and when there is a corresponding shift in economic activity.
In the field of meteorology, the term "time lag" refers to the amount of time that passes between the occurrence of a change in the weather and the manifestation of that change in other systems, such as agriculture or the distribution of water.
The difference in timing that occurs between two events or activities that are comparable is another definition of time lag.
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XYZ company has ended the year with a receivable balance of $300 for items sold on 31st December 20xx. It forecasted the sales to reach $350 in Q1 and $500 in Q2 with both sales occur within the first week of each quarter. The company has a 20-day average collection period. How much cash will the company collect in Q1? A.200 B.500 c. 650 d.300.. choice the correct multiple choice. show me full correct calculations
Answer:
Answer: C. 650
Explanation:
Calculation:
Q1 sales: $350
Q2 sales: $500
Q1 receivables balance: $300
Cash collected in Q1 = Q1 sales + Q1 receivables balance
= $350 + $300
= $650
Therefore, the company will collect $650 in Q1.
An employee's decision to leave his or her job by choice when the business is
shrinking its workforce, in exchange for a cash payment and year of health
insurance would be an example of.
OA. outsourcing
B. voluntary termination
OC. restructuring
D. reduced work hours.
SUBMIT
Offboarding is the method that leads to the formal separation between an employee and a employer via resignation, termination, or retirement.
It encompasses all the selections and tactics that take area when an worker leaves.
This may also include: Transferring that employee's job responsibilities
What takes place when a organization downsizes?Downsizing is the everlasting reduction of a company's labor force by way of disposing of unproductive employees or divisions.
While it is normally carried out at some point of instances of stress and a decline in revenues, downsizing can also be used to create leaner and extra efficient businesses.
What is employee displacement?Displaced workers are defined as people 20 years of age and over who record that they lost or left jobs due to the fact their plant or organization closed or moved, there used to be insufficient work for them to do, or their function or shift was once abolished.
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Answer:it’s b
Explanation:B. voluntary termination
What are the four stages of the profitability control?
Suppose you own a bicycle but haven't found the time to ride it much lately. These days, it is only worth $25 to you. One of your close friends, who recently got a job at the college bookstore two miles down the road, wants to take it off your hands. He offers you $70 for the bicycle, and you gladly accept. Your friend is also happy because he thinks the bicycle is worth $94 . How much total value was created from this trade? $
The total value created from this trade can be calculated by subtracting the value of the bicycle to you from the value of the bicycle to your friend and adding it to the value of the bicycle to you.
The value of the bicycle to you is $25 and the value of the bicycle to your friend is $94.
Therefore, the total value created from this trade is: $94 - $25 + $70 = $139
So, the total value created from this trade is $139.
buyer needs $27,000 retail worth of backpacks for the BTS season. Buyer already purchased 360 backpacks at a cost of $11.50 each which will retail at $26 each. What markup percent must be obtained on the balance of purchases in order to average a 64.3% markup?
The markup percent that must be obtained on the balance of the purchases in order to average a 64.3 markup is a percentage of 42.14%.
What is Mark-Up PriceTo find the markup percent that must be obtained on the balance of the purchases, we first need to calculate the total cost of the 360 backpacks that have already been purchased.
360 backpacks * $11.50 per backpack = $4,140
Next, we need to calculate the total retail value of the backpacks that have already been purchased.
360 backpacks * $26 per backpack = $9,360
To find the markup percent, we need to divide the difference between the retail price and the cost by the cost, and then multiply by 100 to convert to a percentage.
[($9,360 - $4,140) / $4,140] * 100 = 126.1%
So the markup percent on the backpacks that have already been purchased is 126.1%.
Now we know that the total retail value of all the backpacks that the buyer needs is $27,000 and the retail value of the backpacks he already purchased is $9,360.
So, the retail value of the backpacks that are still needed is: $27,000 - $9,360 = $17,640
Given that the average markup percent of all the backpacks must be 64.3% we can set up the equation like this:
(($17,640 * markup%) + $4,140) / ($17,640 + 360) = 64.3%
Solving for markup% = (0.643*($17,640 + 360) - $4,140) / $17,640
markup% = 42.14%
So, the markup percent that must be obtained on the balance of the purchases in order to average a 64.3% markup is 42.14%.
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What are the two main elements that are involved in the measurement of risk?
Answer:
All threats can be decomposed into two basic elements:
(1) a trigger
(2) one or more vulnerabilities.
Question 6 of 12
Which of the following sources are unreliable?
Select the 3 answer options that apply.
An inaccurate source
A source that isn't relevant to your subject
An untrustworthy source
A source that is current enough for your needs
An inaccurate source, A source that isn't relevant to your subject and An untrustworthy source are the sources are unreliable. Hence, option A, B and C are correct.
What is an inaccurate source?When the author lacks the necessary credentials to write on the subject, when there is plagiarism or uncited information in the source, or when there is inaccurate or false information, the source is unreliable.
websites and blogs that publish news that is opinion-based. Articles on these websites are authored by regular people. They seem exactly like trustworthy sources, despite the fact that they are not meant to substitute medical advice.
Thus, option A, B and C are correct.
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(c) Beginning inventory consisted of 16,000 units with a direct materials cost of $56,800. The equivalent work represented by all direct materials costs in the WIP Inventory account amounted to 72,000 units. Ending inventory had 24,000 units that were 20 percent complete with respect to materials. The ending inventory had a $18,000 direct materials cost assigned. What was the total materials cost incurred this period? (Do not round intermediate calculations.) Total material cost
The total materials cost (assuming the weighted average method) incurred during this period is $213200.
What is Inventory?Inventory refers to all of the items, goods, merchandise, and materials held by a company for the purpose of reselling in the market for profit. Raw materials and components, work in progress, finished goods, and maintenance, repair, and operating supplies are the four major categories.
Cost per unit :
= $18000 / (24000 x 20%)
= $3.75 per unit
Cost per unit = (direct material cost + cost incurred) / equivalent units
$3.75 = ($56800+Cost incurred) / 72000
Cost incurred = $213200
Therefore, The total materials cost is $213200.
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it 1 HW 1.4 Equations Help me solve this | 6 parts remaining Question 11, 1.4.23 Solve and check the linear equation. 1 5 (10x + 40) - 6=(12x - 21 3(12x-21)
How do I simplify the algebraic expression on the left side of the equation
1/5 (10x + 40 ) -6= - 1/3 ( 12x-21)
Answer: The value of x after simplifying the algebraic expression is 21/6
Explanation of the answer above :
Firstly start by multiplying 1/5 on the left and -1/3 on the right. In simpler words, open the brackets.
10x/5 - 40/5 -6 = -12x/3 +21/3
Secondly, start solving the equation which will be as follows
2x-8-6 = -4x+7
Thirdly, add -8 and -6. The answer after this will be as the following.
2x -14 = -4x +7
Lastly, bring all the variables to one side
2x+ 4x = 14+ 7
6x =21
x = 21/6.
Hence the value of x is 21/6
A nike-women only store offers women's running, training and spotswear products and also contains an in-store fitness studio for group and personal training sessions. the store consistently earns in excess of $500,000/year as profit and it's located in the city centre. the owner pays $15,000 per month as rent. An agent approached the owner that she could add $8,000 as profit by renting the part of her store she uses as studio but she refused. what is the opportunity cost of continuing doing the business with the fitness store.
The opportunity cost of continuing to run the fitness store is -$584,000 per year, which means that the owner would have to incur a loss of $584,000 to maintain the fitness studio in their store.
What does the opportunity cost?Define opportunity cost: Opportunity cost is the cost of foregone alternative opportunities, i.e. the benefits that could have been gained if the next best alternative was chosen instead.
Calculate the potential profit from renting out the studio:
$8,000 per month * 12 months = $96,000 per year.
Subtract the existing profit from the potential profit:
$96,000 - $500,000 = $404,000
Take into account the current rent:
$15,000 per month * 12 months = $180,000 per year.
Calculate the net opportunity cost:
$-404,000 - $180,000 = $584,000.
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The following is the Krock Ltd. as on 31st March current year. Equity Share: 10000 Share (Rs. 100 FV each) = Rs. 100000 12% Preference Share (of Rs. 100 each) = Rs. 400000 10% Debentures = Rs. 600000 The market price of the company’s share is Rs 110 and it is expected that a dividend of Rs 10 per share would be declared at the end of the current year. The dividend growth rate is 6 per cent. If the company is in the 35 per cent tax bracket, compute the weighted average cost of capital based on book value weights.
Answer:
Explanation:
Weighted Average Cost of Capital (WACC) = (Weight of Equity x Cost of Equity) + (Weight of Preference Shares x Cost of Preference Shares) + (Weight of Debt x Cost of Debt x (1-Tax Rate))
Weight of Equity = (10000 x 100) / (100000 + 400000 + 600000) = 0.16
Cost of Equity = (Dividend per share / Market Price per share) + Growth Rate
= (10 / 110) + 0.06 = 0.077
Weight of Preference Shares = (400000 / (100000 + 400000 + 600000)) = 0.64
Cost of Preference Shares = 12%
Weight of Debt = (600000 / (100000 + 400000 + 600000)) = 0.20
Cost of Debt = 10%
Weighted Average Cost of Capital (WACC) = (0.16 x 0.077) + (0.64 x 0.12) + (0.20 x 0.10 x (1 - 0.35))
= 0.0123 + 0.0768 + 0.065 = 0.1561 or 15.61%
A promissory note can best be described as __________., a. an interest-bearing IOU, b. a guarantee of a line of credit, c. a commitment to lend money to someone, d. a government-backed bond
A promissory note can best be described as: a. an interest-bearing IOU.
What is promissory note?Promissory note can be defined as a written note that help to shows that a person who lend a money from another person promise to payback. The note contains a promise by the borrower to pay back the lender within a stipulated period of time.
A promissory note can tend to be described as IOU which full meaning is I OWE YOU which implies that a borrower is telling the lender that he/she owe the lender some certain amount of money which the borrower will have to payback.
A promissory note also contains the terms and conditions of the agreement and this terms and agreement includes the following :
The principal amountThe loan maturity dateThe interest etcTherefore we can conclude that the correct option is A.
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Accounting Equation Determine the missing amount in each of the following cases: AssetsLiabilities Stockholders ' Equity a . $ 420,000 $ 175,000 $ 245,000 b. $ 73,000 $31,000 $ 42,000 C. $121,000 $ 31,000✓$ 90,000
According to the other item was the found are:
Stockholder's equity = $245,000
Assets = $73,000
liabilities = $31,000
What is Liabilities?
The term liabilities refer to the part of the financial statement. The financial statement was described as the liability, which was the company's to pay the own. The liability was established in accordance with the needs of the company. The liability also referred to the past transactions of the business. The liability included money, goods, or services.
a) Assets - Liabilities = Stockholder's equity
$420,000 - $175,000 = $245,000
b) Stockholder's equity + liabilities = Assets $ 42,000+ $31,000 = $73,000
Assets - Stockholder's Equity = liabilities
$121,000 - $90,000 = $31,000
According to the missing value was the found are the aforementioned.
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o get detailed values of project schedule and cost performance , look at _____ and _____.
Select an answer:
schedule variances; cost variances
Answer:
To get detailed values of project schedule and cost performance, look at schedule variances and cost variances.
What is the trade reason when a country has to purchase products from another country because it cannot or will not produce the product on its own? Option 1: Specialization Option 2: political/historical Option 3: Increased Competition Option 4: surplus
Answer: The five main reasons international trade takes place are differences in technology, differences in resource endowments, differences in demand, the presence of economies of scale, and the presence of government policies.
Each model of trade generally includes just one motivation for trade.
Explanation: The purchase of goods from a foreign country is called import.
Trade increases competition and lowers world prices, which provides benefits to consumers by raising the purchasing power of their own income, and leads a rise in consumer surplus. Trade also breaks down domestic monopolies, which face competition from more efficient foreign firms.J
Which of the following types of interest income are subject to federal income tax?
Select one:
a. Interest on state of New York bonds.
b. Interest on US savings bonds
c. Interest on Dover City, Delaware municipal bonds.
d. None of the these are subject to federal tax.
None of the options are types of interest income that are subject to federal income tax.
What is Bond?An investor makes a loan to a borrower, such as a company or the government is known as a bond.
Interest on bonds, mutual funds, CDs, and demand deposits of $10 or more is taxable under federal income tax. Taxable interest is taxed in the same way as ordinary income. Each year, payors must file Form 1099-INT and send a copy to the recipient by January 31.
Interest that is not taxable. If the bond is issued by a state, the District of Columbia, a U.S. possession, or any of their political subdivisions, the interest on the bond is generally not taxable.
Therefore, Option (d) is correct.
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Which decision model in coporates the uncertainty element
Answer: A decision model that incorporates the uncertainty element is the Bayesian Network. Bayesian Networks are probabilistic graphical models used for reasoning under uncertainty and for making decisions. They are composed of nodes that represent variables and edges that represent the relationships between them. They use probability theory to calculate the probability of certain events occurring given certain conditions. Bayesian Networks are useful for making decisions in uncertain environments, as they allow for the incorporation of prior knowledge, uncertainty, and dynamic changes in the environment.
If an instrument is not 100% reliable then how it is possible that it is valid?
Answer: If an instrument is not reliable then it is valid if it is measuring the right thing but in an inconsistent manner
Explanation:
An instrument can be reliable but not valid if the measurement is taking place in a consistent manner but not measuring the right thing. Similarly it goes the other way round.
Mr. Aakash Verma is the Regional Head of an established Software company. Aakash has been working with this company for 4 years now. The company is on the verge of expansion and collaboration with other companies with high potential business and having their wings in foreign locations too. Aakash being senior and experience is expected to represent his company, during formal meetings and presentations. He seeks suggestions and guidance to be an effective presenter. Define the qualities of a presenter that make the presentation effective. Also define the 4 Cornerstones of making a memorable presentation.
A few qualities that good presenters possess are Passion About Their Topic, In-Depth Knowledge About Their Topic, They Keep Their Message Simple, They Exude Sincerity.
What are the 4 cornerstones of making a memorable presentation?World-class presenters all exhibit the following qualities:
They Exude Confidence, The Ability to Connect with Their Audience, they are Great Storytellers, Their Presentations are Highly Organized.
The subject that a skilled presenter chooses to cover is always something that genuinely motivates them. An audience will always be able to tell that they are really passionate about their subject.
A speaker needs to be passionate in order to be effective. The audience must get interested in your issue in order to be engaged; your enthusiasm is what draws them in and piques their curiosity.
Telling a tale is one of the best methods to get your point across. The listeners' hearts and minds are captured by a good narrative. A presentation is memorable when it has a compelling tale.
The most interesting tales are ones that are based on your own experience. Consider the struggles you overcame and the path you followed to overcome them. Your audience will be moved by your tales.
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The Reverend Petros receives an annual salary of 51,000 as full-time minister this includes 5000 designated as a rental allowance River and Pedro is not exempt from employment tax how much must he include figuring that income for self-employed tax
If the Reverend Petros receives an annual salary of 51,000 as full-time minister that includes 5000 designated as a rental allowance. The amount that must be include figuring that income for self-employed tax is : $51,000.
What is annual salary?Annual salary can be defined as the amount a person earn as salary per year.
On the other hand self employed tax can be defined as the tax a person that is solely working for his/her self without working for any other person remit to the government.
Therefore the amount that must be include figuring that income for self-employed tax is the amount of $51,000.
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Which debtors should have their credit lines reduced? A. debtors who pays within 30 days B. debtors who have a substantial amount due for more than 60 days C. customers who make cash payments D. a customer who has paid his balance within 60 days
The debtors should have their credit lines reduced is (D) a customer who has paid his balance within 60 days.
What do you mean by debtors?A person or business who owes money to another person or company is said to be a debtor. For instance, in the case of a car loan from your credit union, you would be the debtor and the credit union would be the creditor.
Who is called sundry debtors?A Sundry Debtor is a person who purchases goods or services from a company on credit or who defers payment and will eventually be responsible for paying the company. Businesses utilize a Sundry Debtor account or Accounts Receivable to keep track of these transactions. Customers that owe money to the business are known as debtors or "receivables." They borrowed money to buy the products, and they still owe money. Customers of a business that infrequently use credit and make small-ticket purchases are referred to as miscellaneous debtors or "sundry receivables."
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