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General Journal
A primary accounting record used to keep track of all business transactions not recorded in specialized journals, using the double-entry accounting method.
Periodic Inventory System
An inventory system that updates inventory balances at specific intervals instead of continuously, often requiring a physical count.
General Journal
A primary accounting record where financial transactions are chronologically recorded before being posted to specific accounts in the general ledger.
Purchases Transactions
Activities related to buying goods and services for use or resale by a business.
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