Dnip8767: You have summarized the beauty of double entry bookkeeping and Verizon applies it rigorously. However in my case I had to pony up for an upgrade fee as well. That is upfront payment of ...
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Dnip8767: You have summarized the beauty of double entry bookkeeping and Verizon applies it rigorously. However in my case I had to pony up for an upgrade fee as well. That is upfront payment of upgrade fee plus sales tax. Let recount how many times I had to do this - First when I bought my beautiful brand spanking new Note7. Second when I returned my first Note 7 and got my interim replacement phone, which was a S7 (upgrade fee + sales tax on S7). Third time when I was informed my 'good' Note 7 was ready for pickup, again upgrade fee+ sales tax on the 'good' Note 7. Finally, I had to exchange the banned 'good' Note 7 and this time I got the S7E. So again I paid upgrade fee + sales tax. That was a total of four times. Dont get me wrong, all the extraneous upgrade fees and sales taxes will be refunded in due course (maybe up to 2 billing cycles). But it is a matter of pay now collect later for the consumer. Hopefully all customers have the credit card resource to absorb this 'temporary' hit. And guess what - Verizon phone sales for October will show a favorable but a misleading spike. Wall Street loves this, so be watching the market stock prices to see if it plays out favorably for Verizon.