What is the difference between Debtors and creditors?

1.	What is the difference between Debtors and creditors?
Answer» Debtors are asset from business point of view but creditors are liabality from business point of view?<br>A creditor is an entity or person that lends money or extends credit to another party. A debtor is an entity or person that owes money to another party. Thus, there is a creditor and a debtor in every lending arrangement.

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