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If the U.S. government imposes a quota on toy imports, then
General Journal
A primary accounting record used to record all non-specific financial transactions of a business in chronological order.
Sales Tax
A consumption tax imposed by the government on the sale of goods and services, collected by the retailer at the point of sale.
Full Payment
Completion of payment for a product or service in total, settling all owed amounts without remaining balances.
General Journal
A fundamental accounting ledger where all financial transactions are initially recorded, employing a double-entry system.
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