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Credit Terms
The conditions under which credit will be extended to a customer, including the repayment time frame and any interest or finance charges.
Credit Terms
Conditions under which credit is extended by a seller to a buyer, detailing the repayment period, discount for early payment, and the due date.
Controlling Accounts
Controlling accounts are general ledger accounts that summarize the balances of a group of subsidiary accounts in a double-entry bookkeeping system.
Accounts Receivable
An asset account that records amounts to be received from customers for goods sold or services rendered on credit.
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