Account rendered - An account presented by a creditor to his debtor; it shows the obligation of
the debtor to the creditor and in the absence of dissent from the debtor he is considered to have
assented to its correctness.

It is the practise in business for the creditor to render to the debtor on the first of each month an
account for the preceding month—that is, to present to the debtor on the first of the month a
statement of the items entered against him in the preceding month.

If the account has not been settled when the first of the succeeding month arrives the debit and
credit items are not repeated in detail, but instead a statement is sent to the debtor reading "To
account rendered" and naming the amount due. If in the intervening month new items have been
entered against the debtor these in detail follow the "account rendered" and the sum of them is
added to the amount of the "account rendered."
If in rendering an account the debit items are partially offset by credit items the difference is called
"balance due." Then, if a settlement has not been made (the balance due has not been paid)
when the statement is sent to the creditor on the first of the succeeding month the statement is
inscribed "To balance due," with the new debit and credit items following.