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How do marketers take advantage of the JND?
Correcting Entries
Journal entries made to amend previously recorded transactions that were entered incorrectly.
Adjusting Entries
Journal entries made in preparation for financial statements to allocate income and expenses to the period in which they actually occurred.
Balance Sheet Account
An account found on the balance sheet which can include assets, liabilities, and equity accounts.
Income Statement Account
An account found in the income statement that records revenues, expenses, gains, and losses.
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