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Which of the following is an optional step in the accounting cycle?
Cash Payments Journal
A financial journal that records all cash payments made by a business, including expenses, purchases, and debt payments.
Sales Discounts
Reductions granted by sellers to buyers from the listed price as an incentive for early payment.
Accounts Payable
Liabilities or amounts owed by a company to its creditors for goods and services that have been delivered but not yet paid for.
Cash
Money in the form of currency, including coins and banknotes, that is readily available for use.
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