Distinguish between debtors and creditors ;profit and loss

\t\t\tMeaningDebtors are the parties who owes debt towards the company.Creditors are the parties to whom the company owes a debt.What is it?It is an account receivable.It is an account payable.StatusAssetsLiabilitiesDiscountAllowed to debtors.Received from creditors.Derived fromTerm \'debere\' of Latin language which means \'to owe\'.Term \'creditum\' of Latin language which means \'to loan\'.Provision for doubtful debtsCreated on debtorsNot created on creditors.\t

1.	Distinguish between debtors and creditors ;profit and loss
Answer»		BASIS FOR COMPARISON	DEBTORS	CREDITORS

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Distinguish between debtors and creditors ;profit and loss

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