1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
vovikov84 [41]
2 years ago
5

What is the distinction between debtor and creditor?​

Business
2 answers:
dezoksy [38]2 years ago
8 0

Debtor → <u>A company or individual who owes money.</u>

Creditor → <u>A person to whom a debt is owed especially.</u>

  • Basically the debtor is the borrower and the creditor is the lender.

\large{\red{\bold{ { \underline{\overline{{ \purple{hope \: this \: helps \: you \: \:}}}}}}}}

igor_vitrenko [27]2 years ago
6 0

Answer:

A creditor is a person who lends money or extends credit to another person.  A debtor is a system or person that owes money to another orginization or party (AKA a company or individual who owes money.)

Explanation:

Hope this helps you! Good luck :)

You might be interested in
Sandhill Warehouse distributes hardback books to retail stores and extends credit terms of 2/10, n/30 to all of its customers. D
Artyom0805 [142]

Answer:

Sandhill Warehouse

Journal Entries:

June 1:

Debit Inventory Account $2,575

Credit Accounts Payable (Catlin Publishers)

To record purchase on account, terms 2/10, n/30.

June 3:

Debit Accounts Receivable (Garfunkel Bookstore) $1,300

Credit Sales $1,300

To record sales of books on account.

Debit Cost of Goods Sold $900

Credit Inventory Account $900

To record cost of books sold.

June 6:

Debit Accounts Payable (Catlin Publishers) $75

Credit Inventory Account $75

To record credit for books returned.

June 9:

Debit Accounts Payable (Catlin Publishers) $2,500

Credit Cash Discount $50

Credit Cash Account $2,450

To record payment on account.

June 15:

Debit Cash Account $1,300

Credit Accounts Receivable (Garfunkel Bookstore) $1,300

To record cash receipt on account.

June 17:

Debit Accounts Receivable (Bell Tower) $1,150

Credit Sales Account $1,150

To record books sold on account.

Debit Cost of Goods Sold $750

Credit Inventory Account $750

To record cost of books sold.

June 20:

Debit Inventory Account $900

Credit Accounts Payable (Priceless Book Publishers) $900

To record purchase on account, terms 3/15, n/30.

June 24:

Debit Cash Account $1,127

Debit Cash Discount $23

Credit Accounts Receivable (Bell Tower) $ 1,150

To record cash receipt on account.

June 26:

Debit Accounts Payable (Priceless Book Publishers) $900

Credit Cash Discount $27

Credit Cash Account $873

To record payment on account.

June 28:

Debit Accounts Receivable (General Bookstore) $1,900

Credit Sales $1,900

To record sale of books on account.

Debit Cost of Goods Sold $970

Credit Inventory Account $970

To record cost of books sold.

June 30:

Debit Sales (Returns) $130

Credit Accounts Receivable (General Bookstore) $130

To record Sales credit

Debit Inventory Account $90

Credit Cost of Goods Sold $90

To record cost of returned books.

Explanation:

1. Purchase of books on account increases inventory and Accounts Payable.

2. Sale of books on account increases Sales and Accounts Receivable.  It also reduces the Inventory Account and increases the Cost of Sales.

3. Return on Purchases reverses the entries made when goods were purchased.

4. Since Garfunkel Bookstore paid after 10 days, it could not enjoy the 2% cash discount on offer.

5. Bell Tower paid within 10 days and enjoyed the 2% cash discount.

6. Priceless Book Publishers was paid within 15 days, so the 3% cash discount applies.

7. Return on Sales reverses the entries during sales.  |t reduces Sales by a contra account called Sales Returns and the Accounts Receivable.  The inventory account is increased and the Cost of Sales is reduced.

8.  Journal entries record the daily transactions of a business as they occur.  From the general journal, postings are made to the Ledger.

5 0
3 years ago
Nell, a member of a protected class, applies for a job with Origami Paper Corporation, but fails the company's employment test a
11111nata11111 [884]

Answer:

<em>Disparate-impact discrimination</em>

Explanation:

As we can see in the given scenario, that Nell believes that the test has an unintentionally discriminatory effect as he fails in the test taken by the company, so this discriminating act that was made by the Origami Paper Corporation is a <u>disparate-impact discrimination</u>.

<em>Because as we know that if someone is been discriminated unintentionally, then it comes under disparate-impact discrimination.</em>

8 0
3 years ago
Financial literacy is the knowledge about
hammer [34]

Money. I'm doing the same subject right now. Feel free to message me if you have any questions.

3 0
3 years ago
Hernando lives in a county where everyone pays the same amount of taxes no matter their income. Which type of tax system is Her
Temka [501]

Answer: Proportional Tax System

Explanation:

7 0
2 years ago
Frito-lay's sunchips line of snack foods uses solar power at one of its eight production facilities to harness the sun's energy
Leno4ka [110]

The answer to the blank space is green-oriented.

Green-oriented products are also known as environmental-friendly products, which means either the product is created from raw materials that will not cause harm upon use or disposal to the environment, or that the product is created through a process that does not impact the environment in a harmful manner.

In the Frito-Lay’s case of snack food manufacturing, it is clear that this is the second type of environmental-friendly product, since the product is partially produced using solar power which leads to less harmful pollution for the environment.

6 0
3 years ago
Other questions:
  • Blake eats two bags of potato chips each day. Blake's hourly wage increases from $9 to $15, and he decides to stop eating generi
    13·1 answer
  • _____ refers to selling to two or more different buyers, within a reasonably short time, commodities (not services) of like grad
    12·1 answer
  • A referee at an american football game issues a decision against the red team and in favor of the blue team. a controversy ensue
    9·1 answer
  • In each of the following cases, calculate the accounting break-even and the cash break-even points. Ignore any tax effects in ca
    5·1 answer
  • The parents of a young child decide to make annual deposits into a college savings account. The first deposit will be made on he
    15·1 answer
  • In the month of June, Jose Hebert’s Beauty Salon gave 3,580 haircuts, shampoos, and permanents at an average price of $34. Durin
    15·1 answer
  • The economic insight in the text referred to “free” air. what was the point of the insight?
    6·2 answers
  • Economic forecasters predict a long period of job growth and consumer spending. The Federal Reserve is most likely to do which o
    5·2 answers
  • Subsidies also distort resource allocation by encouraging excessive energy consumption, artificially promoting capital-intensive
    7·1 answer
  • Why should a notary signing agent learn all about the closing documents in a loan package if they are not allowed to provide adv
    15·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!