What does the cryptic crossword clue "Ned bit upset, owing money? (2,4)" mean?

The definition is "owing money?". The wordplay uses an anagram. anagram of NED + BIT = INDEBT; definition: "owing money?" The answer is INDEBT.

Ned bit upset, owing money? (2,4)

Daily Mail Cryptic #17104 | 28 Across | 2023-05-24 flower