Creditor - Someone an organisation owes money to for goods purchased on credit, Credit sale - The sale of goods with payment within an agreed period of time, liability - Money owed by an organisation, Cash purchase - The purchase of good with immediate payment, Cash sale - The sale of goods with immediate payment, Credit purchase - The purchase of goods with payment within an agreed period of time, Customers - A group of contacts who order goods from a business, Suppliers - A group of contacts from whom purchases are made, Equity - The remaining value of an owner's interest in a company, after all liabilities have been deducted., Client - Receives the professional services e.g. legal or accountancy,

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