What does paying 60 nfas mean?
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Net 60 vendor accounts specifically are a type of trade credit that requires you to pay back a vendor or supplier 60 days from the invoice date. (Terms may be based on business days beyond that invoice date, rather than calendar days, so be sure to check.) You may not even have to pay interest if you use vendor credit
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Economic Times
Once the payment is made, the cash segment in the balance sheet will increase by Rs 1,00,000, and the account receivable will be decreased by the same amount, ...
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