Kylie is both a debtor and a creditor of Tiger Balm.At the end of the period she owes Tiger Balm $200 while Tiger Balm owes her $1,500.The correct journal entry to offset the amounts against each other is:
A) Debit debtors $200; credit creditors $200
B) Debit creditors $200; credit debtors $200
C) Debit debtors $1,500; credit creditors $1,500
D) Debit creditors $1,500; credit debtors $1,500
Correct Answer:
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