AVERAGE SETTLEMENT PERIOD is calculated: For Debtors = Trade Debtors X 365 days / Credit Sales
For Creditors = Trade Creditors X 365 days / Credit Purchases.
BANK is a financial entity that is licensed by a government to receive monetary deposits: commercial/retail banks and investment banks. In most countries, banks are regulated by a national government or central bank.
NET PURCHASES are those items purchased less returns, discounts and allowances on those purchases.
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