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What are the three basic parts of a composite cell?
Unearned Service Revenue
Refers to the money received by a company for services it has yet to render.
Temporary Accounts
Accounts that track transactions within a fiscal period and are reset to zero at the start of the next period, including revenues, expenses, and dividends.
Owner's Drawings
Withdrawals of a company's earnings by the owner for personal use, affecting the owner’s equity account in a separately held business.
Accumulated Depreciation
This accounts for the total depreciation expenses charged against a fixed asset since it was put into use, reflecting the decrease in value of the asset.
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