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We hereby represent that the foregoing statement is in all respects true and that the same shows all our debts and liabilities and that said statement is made for the purpose of inducing Floyd s Truck Center Inc* to grant us an open charge account. WE AGREE TO PAY OUR OPEN ACCOUNT ON THE TENTH OF THE MONTH FOLLOWING PURCHASES* Company Name Date Signed Print FOR OFFICE USE ONELY Credit References Contacted Approved Disapproved Limit Letter of Approval Sent Yes No Account Tax Exempt Certificate ...

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What is the charge account?

Definition of charge account : a customer's account with a creditor (such as a merchant) to which the purchase of goods is charged.

What are the 3 main types of credit?

What Are the Different Types of Credit? There are three main types of credit: installment credit, revolving credit, and open credit. Each of these is borrowed and repaid with a different structure.

What is an open charge account?

Noun. 1. charge account - credit extended by a business to a customer. credit account, open account. charge account credit, open-end credit, revolving credit - a consumer credit line that can be used up to a certain limit or paid down at any time.

What are the three types of charge accounts?

Three main types of charge accounts: 1. Regular, revolving, and budget. You are required to pay for purchases in full within a certain period.

What is the charge account?

Definition of charge account : a customer's account with a creditor (such as a merchant) to which the purchase of goods is charged.

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What are the three types of charge accounts?

Three main types of charge accounts: 1. Regular, revolving, and budget. You are required to pay for purchases in full within a certain period.

What are examples of charge accounts?

An installment account is a form of charge account where the buyer makes payments in installments. Under an installment account, the buyer owes a specified amount and has a fixed time in which to pay it. Mortgages and student loans are two examples of installment accounts.

What type of account is charge account?

Charge accounts are also referred to as credit accounts. These accounts allow for the purchase of goods or services with the purchaser essentially making a promise to pay later. Many charge accounts have interest terms that are subject to change.

What is a customer charge account?

charge account in American English 1. a business arrangement by which a customer may buy goods or services and pay for them within a specified future period. 2. a record of such purchases, kept by the seller.

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