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After preparing the bank reconciliation, journal entries must be prepared for:
Earnings
The amount of profit that a company produces during a specific period, indicating the financial performance and profitability.
Executive Change
The process or event of a change in the leadership or management team within an organization, which can have significant impacts on the strategic direction and performance of the company.
Bad Debt Expense
An expense account reflecting the estimated amount of receivables that are not expected to be collected due to customer defaults.
Loan Receivables
Claims or financial assets arising from money lent to borrowers by an entity.
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