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Sec.179 tax benefits are recaptured if at any time an asset is converted to personal use.
Debit Balance
A situation where the sum of debits in an account exceeds the sum of credits, often indicating the amount owed or expenses.
Bank Reconciliation
The process of matching and comparing figures from accounting records against those shown on a bank statement.
Check Amount
The total sum of money written on a check that is payable to the recipient.
Book Balance
The balance in a company's accounting records for a particular account, which may differ from the actual cash balance until reconciled.
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