A terminology that would best complete the table of credits is loan.
What is a credit?
A credit can be defined as a type of financing in which a seller (supplier) allows a customer to purchase goods or services based on the agreement that the amount of money taken would be paid later with an agreed upon interest rate.
This ultimately implies that, a credit is a form of loan that is given to a customer by a business firm or financial institution.
In Financial accounting, there are three (3) main types of credit and these include the following:
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