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After passing through the auditory nerve, sound information enters the:
Closing Entry
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the books for the next period.
Selected Accounts
Accounts chosen for review or analysis, often for the purpose of financial reporting or auditing.
Normal Credit Balance
The expected positive balance of certain types of accounts in the double-entry bookkeeping system, such as liabilities, revenues, and equity accounts.
Sales Tax Payable
A liability account in the general ledger that accumulates the amount of sales tax collected from customers on behalf of local or state tax authorities, to be remitted in the future.
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