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A credit note or credit memo is a commercial document, utilized in business transactions to indicate a reduction in the amount owed by a customer or owed to a supplier. If the customer returns goods to the seller, the invoice previously issued is cancelled, in part or as a whole, with a credit note.
A number of countries, such as South Africa, the United States and the United Kingdom, have "up-front tuition policies." [3] These policies generally include a tuition fee that is large enough to give parents or guardians "a responsibility to cover some portion of their children’s higher education costs."
A balloon payment mortgage is a mortgage that does not fully amortize over the term of the note, thus leaving a balance due at maturity. [1] The final payment is called a balloon payment because of its large size. [2]