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Record Deferral
The process of postponing the recognition of certain income or expenses in the financial records until a later accounting period.
Journal Entries
Records in accounting that document every financial transaction affecting the accounts of a business, used to track and manage financial activities.
Note Payable
A written promise to pay a specified amount of money, typically with interest, by a certain date.
Decrease Assets
A reduction in the value or quantity of the assets owned by a company or individual.
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