Balance of X's account in creditors ledger is transferred to X's account in debtors ledger, in this case

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CMA Intermediate Exam: Financial Accounting Practice Test — practice the complete quiz, review flashcards, or try a random question.

The CMA Intermediate Course Syllabus includes the following topics for Paper 6: Financial Accounting:
Accounting basics
Preparation of financial statements
Self-balancing ledgers
Royalties
Hire purchase and installment system
Branch and departmental accounts
Accounting in a computerized environment and standards


Balance of X's account in creditors ledger is transferred to X's account in debtors ledger, in this case