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How are the inputs assigned in the PLC described in this chapter?
Account Receivable
Funds that customers owe a company for products or services provided on credit.
Dishonored Note
A promissory note that has not been paid by the maker at the maturity date.
360-Day Year
An accounting convention that simplifies interest calculations by assuming each month has 30 days, totaling 360 days for the year.
Interest Calculation
The process of determining the charge for the use of borrowed funds or the return on invested funds, typically expressed as an annual percentage rate.
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