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Accrued Interest Expense
The amount of interest that has been incurred but not yet paid during a particular period.
Adjustments
Entries made in accounting records to correct errors or allocate revenues and expenses to the appropriate accounting period.
Depreciation
The procedure of distributing the cost of a solid asset over the time it is considered useful.
Accrual Basis
A system in bookkeeping where earnings and expenses are documented at the point of transaction, not necessarily when cash exchanges hands.
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