Please tell the difference between sundry creditors and creditors??
Dear Student,
Creditors are customers to which the company owes funds. The company has purchased goods on credit and payments are yet to be made to them. Sundry creditors refer to a company’s suppliers from whom the company rarely make purchases on credit and the amounts purchased from them are not significant and who are usually small scale suppliers.
Regards
Creditors are customers to which the company owes funds. The company has purchased goods on credit and payments are yet to be made to them. Sundry creditors refer to a company’s suppliers from whom the company rarely make purchases on credit and the amounts purchased from them are not significant and who are usually small scale suppliers.
Regards