Just a question, I don't want to do business anymore, have a small CC, there is no liabilities, only a debit loan account.
What is the best to do with the loan account as I cannot repay it at this moment?
Just a question, I don't want to do business anymore, have a small CC, there is no liabilities, only a debit loan account.
What is the best to do with the loan account as I cannot repay it at this moment?
If there is a debit loan account and no liabilities, is the credit retained income?
You should ask the accounting officer, but a dividend from retained income can wiping it out.
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