QUESTION 1: On 1st April 2013 Joe Paid $ 100 for his phone bill:
Which month bill gets paid first?
Eg. January 2013 is $ 50
February 2013 is $ 50
March 2013 is $ 50
$ 100 will be offset against;
(a) March 2013 & February 2013
(b) January 2013 & February 2013.
What if, this payment is offset in wrong order & interest is charged?