Introduction - Difference Between Debtors & Creditors
A debtor is a person or enterprise that owes cash to another gathering. (The gathering to whom the cash is owed is frequently a provider or bank that will be alluded to as the loan boss.)
A creditor is a person, bank, or other enterprise that has loaned cash or stretched out credit to another gathering. (The gathering to whom the credit has been allowed is frequently a client that will now be alluded to as a borrower.)
In the event that Company X borrowed cash from its bank, Company X is the account holder and the bank is the loan boss. On the off chance that Supplier A sold stock to Retailer B, at that point Supplier An is the creditor and Retailer B is the debtor.
A creditor is a person, bank, or other enterprise that has loaned cash or stretched out credit to another gathering. (The gathering to whom the credit has been allowed is frequently a client that will now be alluded to as a borrower.)
In the event that Company X borrowed cash from its bank, Company X is the account holder and the bank is the loan boss. On the off chance that Supplier A sold stock to Retailer B, at that point Supplier An is the creditor and Retailer B is the debtor.
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