Bookmark and Share

DEBTORS CONTROL ACCOUNT reflects the total amount owed by the all the individual debtors. The balance of the debtors control account must equal the total of the debtors list, which represents the amounts owed by the individual debtors obtained from the individual balances in the various subsidiary ledger accounts for each debtor. This subsidiary ledger is known as the debtors ledger.

Learn new Accounting Terms

BULLET is 1) A security with only one final maturity payment. 2) A fixed income investment strategy where securities of a single maturity (rather than barbelled or laddered maturities) are purchased.

ACCEPTANCE is a drawees promise to pay either a TIME DRAFT or SIGHT DRAFT. Normally, the acceptor signs his/her name after writing "accepted" (or some other words indicating acceptance) on the bill along with the date. That "acceptance" effectively makes the bill a promissory note, i.e. the acceptor is the maker and the drawer is the endorser.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.