CREDIT SALES Definition

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CREDIT SALES are merchandise or services sold on the promise to pay later.

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MANAGED RECEIVABLES is the total receivable amounts on which a company continues to perform billing and collection activities, including receivables that have been sold with and without credit recourse and are no longer reported on the balance sheet. See OWNED RECEIVABLES.

DRAWDOWN is the magnitude of a decline in account value, either in percentage or currency terms.

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