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If a lung were to be found in a mollusc, where would it be located?
Debit Balance
A situation where the total debits exceed the total credits in an account.
Merchandise
Goods that a business purchases to sell to customers in the ordinary course of its business; typically, items bought for resale.
Inventory
The raw materials, work-in-progress products, and fully finished goods that are considered to be the portion of a business's assets that are ready or will be ready for sale.
Sales Tax Payable
Sales tax payable is a liability account that records the amount of sales tax collected by a company from customers, which is due to be paid to the governmental tax authority.
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