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Credit Sales
Credit Sales are transactions in which goods or services are provided to customers with the understanding that payment will be made at a later date.
Credit Cards
Financial instruments issued by banks or financial institutions allowing cardholders to borrow funds at the point of sale, subject to repayment terms and interest rates.
Nonsufficient Funds Checks
Checks that cannot be processed due to the drawer’s account lacking sufficient funds, leading to a bank refusal to honor the check.
Collections
The process of pursuing payments of debts owed by individuals or businesses.
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