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Collection Fee
A charge levied for the service of collecting funds from a debtor or processing payments.
Accrued Interest
Interest that has been earned but not yet received or recorded as income by the end of the accounting period.
Journal Entry
A record in accounting that logs the debit and credit sides of a financial transaction.
Deposits In Transit
Funds that have been deposited in a bank account but not yet recorded by the bank, leading to a difference between the company's records and the bank statement.
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