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Which of the following statements is true?
Cash Account
An account recording all transactions involving cash, including receipts and payments.
Credit
A bookkeeping entry that represents a decrease in assets or an increase in liabilities, or it can refer to the provision of goods or services in exchange for future payment.
T Account
A graphical representation of a ledger account, used in accounting to depict debits and credits.
Debits
Entries made on the left-hand side of an accounting ledger, typically indicating increases in assets or expenses or decreases in liabilities, equity, and income.
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