sundry creditors

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@ Prasad.,


Sundry Creditors

A person to whom the firm owes money is called a creditor, when goods are purchased on credit from supplier, commonly suppliers of goods/ services are known as creditors.

Unsecured Loan

Unsecured loans are loans that are approved without the need for collateral. Instead of pledging assets, borrowers qualify based on their credit history and income. Lenders do not have the right to take physical assets (such as a home or vehicle) if borrowers stop making payments on unsecured loans.