Please Define the Following Key Terms

question 84

Essay

Please define the following key terms.
-Consuelo Vanderbilt

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Definitions:

Adjusting Entry

Accounting entries made to update the records for accruals and deferrals that were not recorded during the accounting period.

Bank Loan

A sum of money borrowed from a bank that is expected to be repaid with interest.

Interest Due

The amount of interest payment that must be paid at a scheduled date for borrowed funds.

Payroll Register

A document that details the payments made to employees, including salaries, wages, deductions, and net pay.