DB Mirroring issue

When I issue the command to create Mirror partner from principal DB in Mirroring step.ALTER
DATABASE TestMirrorSET
PARTNER = 'TCP://172.20.52.58:10111'GO
Then I get the error as follows:
"Msg 1418, Level 16, State 1, Line 1
The server network address "TCP://172.20.52.58:10111" can not be reached or does not exist. Check the network address name and reissue the command."
What can be the reason for this? I am able to telnet the port of Mirror from principal and vice versa.

The error from error log is as follows:
"Database mirroring connection error 4 'An error occurred while receiving data: '10054(An existing connection was forcibly closed by the remote host.)'.' for 'TCP://172.20.52.58:10111'."
This means that the principal is not able to receive data from Mirror : 172.20.52.58:10111
How to troubleshoot this?

What Account is your sql Server service and Agent service using . try using a domain account with rights to the other server.

Hi I want to add one thing here that I don't have administrator rights in the mirror server mc. Would this really matter?

i think you have to use the same domain account to start the sql services on both services