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Which statement about changes in the skin is incorrect?
Journal Entries
Entries made in a journal documenting every financial transaction of a business and used as the first step in the accounting cycle.
Outstanding Checks
Checks that have been written and recorded in the payer's accounting records but have not yet been cashed or deposited by the payee.
Petty Cash
A modest sum of money maintained in reserve for small, unplanned costs.
Journal Entry
A record in the accounting journal that represents a transaction and shows the debits and credits to various accounts.
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