What is the distinction between debtor and creditor?
On accounting basics, I wanted to know the difference between debtor and creditor
- Meghana
- 22 Jul
- 517 Views
- 12 Answers
Your Answer
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MeghanaMS
- 07 Jul
A deptor is a person or enterprise that owes money to other party. A creditor is a person, bank, or other enterprise that has lent money or extended credit to another party. If company X borrowed money from its bank, company X is the debtor and the bank is the creditor.
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