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Interest Income
Earnings received from investments in various forms of debt, such as savings accounts, certificates of deposit, and bonds.
Periodic Method
A method of inventory accounting in which the cost of goods sold is determined at the end of an accounting period.
Journal Entries
The recording of financial transactions in a journal in a way that they show the debit and credit effect on the accounting system.
Notes Payable (Old)
Obligations in the form of written promissory notes that a business owes to creditors or banks, with "Old" implying they are not recent liabilities.
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