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Explain the colonists' response to the revenue acts of the 1760s.
Journal Entry
A record in the books of accounts that represents a business transaction, involving at least two accounts to record the financial activity.
Amortization
The gradual reduction of a debt or the spreading out of capital expenses over a fixed period of time.
Net Income
The total profit of a company after all expenses and taxes have been subtracted from revenues.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded against a fixed asset since its acquisition.
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