SUNDRY DEBTOR Definition

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SUNDRY DEBTOR is an entity from who amounts are due for goods sold or services rendered or in respect of contractual obligations. Also termed: debtor, trade debtor, and account receivable.

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OBLIGATION, in business, is a legal duty to pay or do something.

YEAR-END is the end of an accounting period; usually a calendar year, but may be a fiscal year. Books are closed at year-end.

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