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Payment
The act of transferring money, goods, or services as an exchange to fulfil a legal obligation or purchase.
Outstanding Balance
This term refers to the amount of money owed on a loan or credit account that has not yet been repaid.
Cheque
A written, dated, and signed instrument that directs a bank to pay a specific sum of money to the bearer.
Invoice
A document indicating the sale transaction and requesting payment for goods or services provided.
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