Telecommunications
Late Payment Penalty Income
Charging interest on overdue postpaid invoices.
| Account Name | Type | Debit ($) | Credit ($) |
|---|---|---|---|
| Accounts Receivable (Late Penalty) | Asset (+) | 3.00 | - |
| Late Payment Fee Income | Revenue (+) | - | 3.00 |
💡 Accountant's Note
Late payment charges are recognized when charged and are legally enforceable per the subscriber agreement. They are Other Income rather than core service revenue.
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