Phrases Expressions of Gratitude and Appreciation

I owe you one.

A2

Meaning

Expressing gratitude with a promise of returning the favor.

Example sentences

John: Thanks for covering for me at work today.

Alice: No problem. I owe you one.

John: Really? Anything you need, just let me know. I’m glad to help.

Alice: I appreciate that. I'll keep that in mind. I owe you one.