Examlex
Rent Expense
An accounting term that refers to the cost incurred by a company to utilize property or equipment for business operations, typically recognized over the lease term.
Adjusting Entry
An entry made in the books of accounts to correct or allocate incomes and expenditures to the appropriate accounting periods.
Debit
A financial record that leads to a rise in a company's assets or a reduction in its liabilities on the balance sheet.
Credit
An accounting entry that increases liabilities or equity or decreases an asset or expense.
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