Learning Goal: I’m working on a accounting question and need the explanation and answer to help me learn.
It is a statement of transactions between two parties during a particular period. Interest is charged or allowed for each debit and credit items at an agreed rate. This statements is sent by one party to another of
1) Suppliers and Customers
2) Consignor and Consignee
3) Broker and his Client
4) Principal and his Agent
5) Banker and Customer
6) Head office and it’s Branch
7) Between Co- venturers
