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The word "owed" is correct and commonly used in written English.
You can use it to express the idea of owing someone or something, such as money, a favor, or an apology. For example: "The tenant still owed the landlord two months of rent."
Dictionary
owed
verb
Past of owe
Exact(60)
Energy supplies and debt owed on gas already supplied were used by the Russians to try to get the government in Belgrade to move ahead on Southstream, according to sources in Belgrade.
Ratner had told the crowd of Hollywood insiders that he owed the Australian businessman his career freedom.
Illegitimate debt owed to financial institutions should not be paid.
As long as debt exists, following the examples of Ecuador and Iceland, we demand a social audit of the debts owed by countries.
Downing Street cited £20m as the value of uncollected debt owed by foreigners.
Went Portsmouth went bankrupt they owed the St John Ambulance £2,702.
A Eurogroup meeting on 11 May seems to be the new cut-off point, but before that Greece needs to scrape enough cash together to fulfil its imminent payments, with the International Monetary Fund on Thursday ruling out any postponement of what it is owed.
He admitted that Di Girolamo was yet to repay a single cent of the principal, nor any of the 10% interest he said the Obeids were owed under the terms of the "loan".
I phoned NatWest the following day to apologise, explaining what had happened and organising payment of the £60.16 that I now owed.
In total the coaching staff is reportedly owed 600m roubles (£5.9m).
Internal minutes from December 2010, previously published by the Guardian, also show that Hartnett personally had "shaken hands" on a deal with top Goldman representatives which allowed the bank to repay only the principal sum owed.
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com