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The Scottish and Scotch-Irish immigrants to the colonies:
Adjusting Entry
A journal entry made in accounting records at the end of an accounting period to allocate income and expenditures to the appropriate period.
Taxes Payable
The amount of tax a company or individual owes to the tax authorities but has not yet paid by the end of the accounting period.
Taxes Expense
The total amount of taxes owed by an individual or corporation to the government within a fiscal period.
Adjusted Entry
An accounting record made to amend the effects of previously recorded transactions to accurately reflect financial realities.
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