I would like to know to treat an unpaid expense of a vendor who closed the business.
1 Replies
yasaswi gomes
(My grammar is 💯 good I)
(7290 Points)
Replied 02 April 2021
First will clear out presence shareholders and debt during insolvency by selling assets and then he clears his bills. Check out realisation accounting on google. If it is a private company, after asset stripping, they will pay the bills and next the director or partners.
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