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Thermometers used in the laboratory must be calibrated before they are put into use. This is accomplished by
Rent Revenue
Earnings from property that is leased to others for use.
Revenue Accounts
Accounts that track the income earned from a company's primary operations and other activities.
Closing Entries
Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts.
Accounting Period
The span of time at the end of which a company calculates its financial performance, typically a quarter or year.
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