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Accounts Payable
An accounting term for the amount of money a company owes to its creditors for supplies, services, or goods purchased on credit.
Balance Sheet
A financial statement that displays a company's financial position at a certain point in time, showing assets, liabilities, and shareholders' equity.
Time-Sales Finance
Financing arrangements that allow consumers to purchase goods or services over time, typically involving installment payments.
Installment Contract
A legal agreement requiring regular payments over time for the purchase of goods or services, typically used for expensive items.
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