Letter grading is a prevalent system. adjective. The definition of prevalent is widespread, well known or in general use. An example of prevalent is the use of a letter grading system in colleges. prevalent. prevalent.
Answer / saif. A debtor/Accounts receivable is a person who owes to money to the business as he has received some benefit from the business. A Creditor/Accounts Payable is a person to whome the business owes money as he has given some benefit to the business.
Definitions.  1 Creditor is the party that won the case and was awarded a judgment by the court.  2 Debtor is the party who lost the case and was ordered by the court to pay the other party.  3 Entry or Entered is the term used with a judgment when it is filed by the Court Administrator.