Question

interest will be recovered by receiver if payment is made later than the average due date true or false​

Answer 1

Answer:

The answer is True

Explanation:

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Answer 2

The statement is true.

Sometimes when transaction takes place between two parties for a large amount on credit, the party who has to receive the payment will give a particular date to the other party and the other party has to make payment on that particular day of the month. this is called average due date.

if the party that has to make the payment pays the amount before the average due date, they may receive rebate or discount on the total amount .but if they make the payment later than the average due date, the receiver can recover interest from them for late payment.