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Balance Sheet
A report detailing a corporation's assets, liabilities, and the equity of its shareholders at a particular moment.
General Ledger
A comprehensive set of accounts that records all financial transactions of a business, serving as the primary source for preparing financial statements.
Income Statement Accounts
These include revenue, expense, gain, and loss accounts that summarize the financial performance of a company over a period of time.
Sales Returns and Allowances
A reduction in the amount of sales that accounts for the return of goods by customers and allowances for unsatisfied goods or services.
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