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You have two bills for $100 each. You paid $150. So $100 paid/bought/was for the first bill and the other $50 paid part of your second bill. you still need to pay the other part of the second bill.
I know that the bold words are not accurate and maybe wrong but what is the best verb that suits the context? Are there any other mistakes in my sentence?
cover, maybe. See definition 1 e (1) : to make provision for (a demand or charge) by means of a reserve or deposit Your balance is insufficient to cover the check.
You could say that the $150 covered the first bill and part of the second.
