Question about Studio Projects VTB-1 Tube Mic Preamp VTB1 - Free Microphone
Debtor owes you money. For example, your business sold a product to Mr Smith. Let us say he has 30 days to pay the money. So Mr Smith is called a Debtor to your business.
Creditor is someone whom your business owe money. Examples would be a bank from which you borrowed money, still not yet paid off
OR another business from which you purchased something, not paid the invoice it.
You need a Basic Book keeping book (Grab one from a High School student) to learn these. Also have a look at this website to learn some accounting terminology.
You will find many others on the web.
Hope this is helpful to you. Best of luck.
Posted on Sep 03, 2009
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Posted on Jan 02, 2017
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