owed to and owed by

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May 10, 2014 at 5:51 am #168148
ASHOK
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sir I am totally confused about this words since my native language is not English so I would like to know that what is owed to and owed by mean is it,
Owed to= receivables and
Owed by= payables
May 10, 2014 at 11:38 am #168186
John Moffat
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If it is owed to the company in question, then it is a receivable of that company.

If it is owed by the company in question, then it is a payable of that company.
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