Question

Who are debtors and creditors explain it with an examples

Answer 1

hi mate ✌️.

here is your answer .....

CREDITORS are those person from whom goods have been purchased on credit and payment has not been made to them.

EXAMPLE :- goods worth 20 lakhs are purchased from x on credit.

DEBTORS are those person to whom goods have been sold on credit and payment has not been received from them.

EXAMPLE:- goods worth 10 lakhs are sold to y on credit

may be helpful ✌️✌️