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Accounting Terms — Account STD 11 Commerce — Question

CBSE BoardEnglish MediumSTD 11 CommerceAccountAccounting Terms1 Mark
Question
Explain the following term:
Debtors.
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Answer

Debtors are persons and/ or other entities who owe to an enterprise an amount for buying goods and services on credit. The total amount standing against such persons and/ or entities on the closing date, is shown in the balance sheet as sundry debtors on the asset side.

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