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Accounts Payable
Liabilities representing amounts owed by a company to suppliers or creditors for goods and services received but not yet paid for.
Accounts Receivable
Debts incurred by customers to a company for delivered goods or services that remain unpaid.
Cash
Money in the form of coins and banknotes; the most liquid form of assets a company has.
Journalizing
The process of recording transactions in a company's journal before they are posted to the general ledger.
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