What is trade credit?

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What is trade credit?

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What is trade credit?

Explanation & AnswerSolution by a verified expert

Explanation

Trade credit also known as accounts payable, is the amount that the company will pay in the future for the goods that are purchased on credit. Moreover, the company does not pay any interest on such deferment of payment.

Verified Answer

Trade credit a type of short-term credit allowed by one trader to another if the goods or services are bought on credit.

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