Accountancy - Posted by valdis

import · January 17, 2001, 8:01am

Posted by JPiper on January 17, 2001 at 09:24:29:

I would say that this would be determined by the “vendor”, and it would be in the manner that is most advantageous to them, and probably set forth in an agreement that you have with them. Why not ask them?

Credit card companies would typically apply payments to the lowest interest rate debt first.

JPiper

import · January 17, 2001, 8:01am

Accountancy - Posted by valdis

Posted by valdis on January 17, 2001 at 09:01:17:

In your opinion…if payments are made on an ongoing commercial account and they are applied to reduce the account balance,are they applied to the oldest debt first or to the current debt first…love to know