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Which of these is NOT a financial intermediary?
Prepaid Insurance
Payments made for insurance coverage that has not yet been incurred, recorded as an asset on the balance sheet.
Supplies Account
An account used in accounting to track the amount spent on supplies that are used in the business operations.
Accounting System
A systematic process of collecting, recording, classifying, summarizing, and interpreting financial transactions of a business.
Purchases Journal
The purchases journal is an accounting record used to document all purchases of merchandise on credit, tracking the total amount owed to suppliers.
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