When creditor accepts an asset whose value is more than the amount due to him, he will pay the excess amount which will be __________ to the realisation account.

No entry

No worries! We‘ve got your back. Try BYJU‘S free classes today!

either debited or credited

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Credited

Right on! Give the BNAT exam to get a 100% scholarship for BYJUS courses

Debited

No worries! We‘ve got your back. Try BYJU‘S free classes today!

Open in App

Solution

The correct option is C
Credited

When creditor accepts an asset whose value is more than the amount due to him, he will pay the excess amount which will be credited to the realisation account.

Suggest Corrections

Similar questions

When creditor accepts an asset whose value is more than the amount due to him, he will ______________ the excess amount

A journal entry in which two or more account is debited or credited is referred as ___.

Join BYJU'S Learning Program