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- noun form of prepay
verbprepay (verb) · prepays (third person present) · prepaid (past tense) · prepaid (past participle) · prepaying (present participle) · pre-pay (verb) · pre-pays (third person present) · pre-paid (past tense) · pre-paid (past participle) · pre-paying (present participle)- pay or pay for in advance:"many tax professionals have been advising their clients to prepay the bills" · "I had prepaid the tickets"
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- Prepayment is an accounting term for the settlement of a debt or installment loan in advance of its official due date1. It may be the settlement of a bill, an operating expense, or a non-operating expense that closes an account before its due date1. A prepayment is the sum paid for goods or services before their receipt or invoiced due date2. In other words, a company has ordered and paid for goods or services but has not received anything yet2.Learn more:✕This summary was generated using AI based on multiple online sources. To view the original source information, use the "Learn more" links.Prepayment is an accounting term for the settlement of a debt or installment loan in advance of its official due date. A prepayment may be the settlement of a bill, an operating expense, or a non-operating expense that closes an account before its due date.www.investopedia.com/terms/p/prepayment.asp
Definition: A prepayment is the sum paid for goods or services before their receipt or invoiced due date. In other words, a company has ordered and paid for goods or services but has not received anything yet.
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