installment sale

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Tags: commerce

Installment sale is selling property and receiving the sales price over a series of payments, instead of all at once at the close of the sale. As the seller, unless you elect out, you will report the gain on that transaction as you receive it through the series of payments. As the buyer, you will usually pay interest on the unpaid balance.
(source: http://www.ventureline.com/accounting-glossary/i/installment-sale-definition/)

Synonyms:
instalment sale
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