bank is a link between debitor and creditor , justify
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Answer:
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Definition of Debtor
A debtor is a person or enterprise that owes money to another party. The party to whom the money is owed might be a supplier, bank, or other lender who is referred to as the creditor.
Definition of Creditor
A creditor is a person, bank, or other enterprise that has lent money or extended credit to another party. The party to whom the credit has been granted is the debtor.
Explanation:--
Examples of a Debtor and a Creditor
Assume that a company borrows money from its bank. The company is the debtor and the bank is the creditor. If a manufacturer sells merchandise to a retailer with terms of net 30 days, the manufacturer is the creditor and retailer is the debtor's.
Answer:
Meaning of Debtor
An account holder is an individual or undertaking that owes cash to another gathering. The gathering to whom the cash is owed may be a provider, bank, or other loan specialist who is alluded to as the leaser.
Meaning of Creditor
A loan boss is an individual, bank, or other undertaking that has loaned cash or stretched out credit to another gathering. The gathering to whom the credit has been allowed is the indebted person.
Instances of a Debtor and a Creditor
Accept that an organization obtains cash from its bank. The organization is the account holder and the bank is the lender. On the off chance that a maker offers product to a retailer with terms of net 30 days, the producer is the loan boss and retailer is the indebted person.