what is red ink in average due date. whether this type of transaction used in bank in practically anyone can explain
2 Replies
ACCOUNTANT
(Student)
(559 Points)
Replied 18 June 2015
Due date/no. of days calculated after the given original due date.,is called red ink due date, while the due date before the ORIGINAL due date is called green ink due date.
Shalini
(student)
(55 Points)
Replied 08 July 2015
It is the payment which falls beyond the date of payment of interest.It is a negative figure which is wriiten in red ink so as to differentiate it from the normal interest amount payable for the period.
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