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Adjusting Entry
A journal entry made in accounting records to update the balances of accounts at the end of an accounting period, ensuring that revenues and expenses are matched accurately.
Aging
A method used to categorize and manage accounts receivable based on the length of time they have been outstanding.
Accounts Receivable
Amounts owed to a company by its customers for goods or services delivered or used but not yet paid for.
Probability
The measure of the likelihood that an event will occur, expressed as a number between 0 and 1.
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