Question

closing debtors and creditors journal entry​

Answer 1

Explanation:

Now, as far as we know, debtor and creditor T-accounts only go in the debtor and creditor ledgers, right?

None of the information about debtor or creditor T-accounts goes in the general ledger, right?

Well... no, not exactly.

The general ledger does contain information about debtors and creditors.

In fact, it contains two special accounts relating to the above, called control accounts.

There is one control account for debtors and another for creditors:

Answer 2

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