Examlex
Find the exact value of the expression.
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Supplies Account
An account used to track the cost of supplies consumed during a period or the supplies on hand at the end of a period.
Adjusting Entry
A journal entry made at the end of an accounting period to update the ledger for revenues and expenses that have been earned or incurred but not yet recorded.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for an asset, reducing its carrying value on the balance sheet over time.
Contra Liability
A liability account that decreases the value of the liability to which it is related, essentially serving as a negative liability.
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