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an arrangement in which a bank, store, etc., allows a customer to buy things with a credit card and pay for them later, In which the customer have to pay some money for the credit service.
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Helen O'Kon
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Is Revenue accounts increase by credit or debit?
revenue accounts increase by credit
Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
What is the order of the accounts in preparing t accounts?
debit and credit
Are accounts payable a credit or debit?
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
What are the 3 categories of consumer credit?
The three types of accounts on a consumer credit report are installment accounts, revolving credit and open accounts. Credit cards are considered revolving accounts.
Is Revenue accounts increase by credit or debit?
revenue accounts increase by credit
Is a decrease in accounts receivable debit or credit?
A Credit entry reduces Accounts Receivable
What services does Visions Federal Credit Union offer its patrons online?
The Visions Federal Credit Union offers its online patrons many different services. Some of those services include checking accounts, savings accounts, credit cards, mortgages, loans, and E-services.
How are store credit accounts different from bank credit card accounts?
cuz ur stupid
What is the order of the accounts in preparing t accounts?
debit and credit
What exactly is an e trade and where can you find one?
E-Trade is an online stock brokerage service. It allows you to buy and sell stock online.They also offer all the services that a regular bank does; such as savings accounts, checking accounts, and credit cards.
What financial institution sometimes call their checking accounts share draft accounts?
credit unions
Are accounts payable a credit or debit?
Accounts Payable is a Liability and therefore its normal balance is a Credit on the Balance Sheet
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
What is the journal entry of credit purchase?
[Debit] Purchases account [Credit] Accounts Payable
What is the difference between credit sales and accounts payable?
Credit sales referes to sales and accounts payable referes to bank
