In financial management, businesses need to manage debtors (trade receivables) and creditors (trade payables)....Debtors are customers who have bought from the business on credit, the business needs to collect outstanding amounts to avoid bad debts.... we discuss and explore what this means for businesses, how does the business identify and manage debtors and creditors? How do they measure each control account?
These are some of the questions we consider with our students to get them to contrast the two types of credit....
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