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Transaction Chronologically
Recording of transactions in the order of their occurrence over time.
Accounts
Financial records that track all transactions related to a specific item, such as revenues, expenses, assets, liabilities, or equity.
Normal Balance
The side (debit or credit) of an account that is usual or expected to increase the balance of that account.
Liability
Financial obligations or debts that a company owes to others, which must be settled through the transfer of assets or provision of services.
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