control account reconciliations

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June 27, 2015 at 1:02 pm #258927
dansindo
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sir could pls explain the answer of this question
A credit balance of $917 brought forward on Y’s account in the books of X means that:
ans: X owes Y $917
June 27, 2015 at 2:47 pm #258931
John Moffat
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A liability is always a credit balance. So if there is a X has a credit balance on an account they have then it means they owe money (in this case to Y).

You should watch all of the free lectures.
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