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Financial Statement
A document that presents a detailed financial status of a company, including balance sheets, income statements, and cash flow statements, at a specific point in time.
Normal Balance
The side (debit or credit) where the balance of an account usually increases.
Account Category
A classification within accounting used to group similar types of accounts, such as assets, liabilities, equity, revenue, and expenses.
Accounts Receivable Subsidiary Ledger
is a detailed ledger showing individual transactions and balances for customers who owe money to the business, supplementing the general ledger.
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