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Adjusting Entries
Records entered into accounting logs at the close of an accounting period to assign earnings and expenses to the period they truly happened.
Worksheet
A document or spreadsheet used in accounting to compile data and calculations for reporting purposes.
Income Statement
A financial document summarizing a company's revenues, expenses, and profits over a specific period, showing its operational performance.
Post-Closing Trial Balance
A list of all account balances after closing entries are made, used to check the equality of debits and credits and prepare for the next accounting period.
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