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Cathy is both a debtor and a creditor of Palm Ltd. At the end of the period Cathy owes Palm Ltd $500 while Palm Ltd

Cathy is both a debtor and a creditor of Palm Ltd. At the end of the period Cathy owes Palm Ltd $500 while Palm Ltd owes Cathy $2000. After offsetting the amounts, Palm Ltds books show a balance of how much as still owing to or from

1)	Cathy (debtor) owes $2500

2)	Cathy (creditor) is owed $1500

3)	Cathy (creditor) is owed $2500

4)	Cathy (debtor) owes $1500

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