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  1. Introduction to Booking Keeping and Accounting | Week 1
    9 Topics
    1 Quiz
  2. Introduction to Books of Account | Week 2
    5 Topics
    1 Quiz
  3. Subsidiary Books of Account I | Week 3
    4 Topics
    1 Quiz
  4. Subsidiary Books of Account II | Week 4
    4 Topics
    1 Quiz
  5. Principles of Double Entry Book Keeping | Week 5
    1 Topic
    1 Quiz
  6. Cash Book | Week 6
    6 Topics
    1 Quiz
  7. Petty Cash Book | Week 7
    1 Topic
    1 Quiz

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This is the customer for goods sold on credit. He is an entity that owes another entity. A debtor may be an individual, corporate organization or government.

Features of Debtors:

(i) It is a current asset
(ii) Debtor is an item in the balance sheet
(iii) Debtor is a Customer
(iv) It is an entity that owes another entity
(v) Part of debt in a debtor’s account can be written off as bad debt


This is a supplier for goods bought on credit. A creditor is an individual enterprise that extended credit to another entity. He can also be referred to as a person or bank that lent money to another person.

Features of a Creditor:

(i) It is a liability.
(ii) It is recorded in the balance sheet.
(iii) A creditor is a supplier for goods purchased on credit.

Differences between Creditors and Debtors:

1.An entity that lent or extended
credit to another.
An entity that owes money
to another party.
2.It is recorded as a liability
in the balance sheet.
It is recorded as an asset in
the balance sheet.
3.He is a supplier of goods
bought on credit.
He is a customer of goods
sold on credit.
4.It is related to purchasesIt is related to sales.


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