What is detor ane creator

Question

Accepted Answer

Debtor and creditor are accounting terms used to describe the relationship between two parties in a financial transaction.

A debtor is a person or entity that owes money to another party.
A creditor is a person or entity to whom money is owed by another party.
Debtors are recorded as liabilities on the balance sheet, while creditors are recorded as assets.
Examples of debtors include customers who have not yet paid for goods or services, or individuals who have taken out loans.
Examples of creditors include suppliers who have provided goods or services on credit, or banks that have issued loans.

Accepted Answer

Debitor - who is purchsing from us
Creditor - Who is saling to us

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