Across
- 5. An agreement between a business and a person/ business applying for credit, a legally binding document signed by both parties
- 7. Able to be trusted to pay back money that is owed; safe to lend money to
- 8. The journal where returns and discount of debtors are recorded
- 9. Sales An arrangement made with a business to pay later for something you buy.
Down
- 1. An organized set of data that is stored in a computer and can be looked at and used in various ways; for debtors, a list of all their names, addresses and telephone numbers, needed to send out statements and follow up on payments owing.
- 2. A piece of legislation that regulates the lending of money (granting credit) and protects both the debtor and the creditor.
- 3. The maximum amount the business is willing to allow the person to buy for on credit
- 4. Where the details of all credit transactions are recorded per debtor, both invoices and receipts.
- 6. Person or business owing money to a business