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Korean

상호계산
Meaning: current account; reciprocal settlement of ongoing transactions
Part of Speech: Noun

Listen to pronunciation

Example

두 회사는 장기간 거래의 잔액을 상호계산으로 정리한다.
The two companies settle the balance of their long-term transactions through a current account.

Usage Notes

This legal and accounting term describes ongoing dealings in which the parties offset their mutual claims and debts and pay only the resulting balance.

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