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English definition of “debtor”

debtor

noun
 
 
/ˈdetər/
[C] a person, country, or organization that owes money: The Federal Deposit Insurance Corporation was appointed receiver of the debtor's assets. debtor countries/nations → Compare creditor
debtors [plural] UK ( US receivables) ACCOUNTING, FINANCE the money that is owed to a company and that is shown in its accounts as an asset: When a client is issued with a bill, the amount on the bill should be entered as debtors in the firm's accounts. → Compare creditor
→ See also judgment debtor, sundry debtor
(Definition of debtor from the Cambridge Business English Dictionary © Cambridge University Press)
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