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One of your customers is delinquent on his accounts payable balance

Question : One of your customers is delinquent on his accounts payable balance : 3587

One of your customers is delinquent on his accounts payable balance. You've mutually agreed to a repayment schedule of $500 per month. You will charge 1.25 percent per month interest on the overdue balance. If the current balance is $11,500, how long will it take for the account to be paid off?

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Accounting 1 Year Ago 94 Views
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