What are the difference between Deposit and Guarantee in AR
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Answer Posted / ch roopa
Deposit are the pre-payment made by a customer that should
be adjusted against futre debit transaction that are raised
with respect to this pre-payment. so deposit represent the
advance payment made by the customer.
Guarantee is a documentation of the promise made by the
customer to obtain the goods from the organisation. This
promise is documented as a gurantee. The customer doesnot
make payment for the guarantee
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