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What effect do payroll entries have on a firm's accounting system?
Federal Reserve Notes
Paper currency issued by the Federal Reserve, the central bank of the United States, used as legal tender.
Checkable Deposits
Bank accounts that allow the owner to write checks to third parties. Checks can be used for payments while the account earns interest.
Readily Used
implies resources or items that are easily accessible and can be immediately employed for a specific purpose or need.
Great Recession
A severe global economic downturn that began in 2007 and lasted until 2009, marked by high unemployment and significant financial instability.
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