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Thunderstorms are a common phenomenon in areas dominated by subtropical highs.
Debit
An accounting entry that increases asset or expense accounts, and decreases liability, equity, or revenue accounts.
Credit
A financial arrangement where goods, services, or money is borrowed by one party from another, with the promise of repayment usually with interest.
Prepaid Rent
An accounting term for payments made in advance for rent that covers future periods, recorded as an asset on the balance sheet until it is consumed.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded against a fixed asset since it was acquired and put into use.
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