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Ledger
A book or database in which financial transactions are recorded, organized by account.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.
Work Sheet
An informal accounting document used internally to compile information for the financial statements and to support adjustments to those statements.
Balance Sheet Accounts
Accounts that appear on the balance sheet, including assets, liabilities, and shareholders' equity accounts, reflecting the financial position of a business.
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