Examlex
Gunpowder was originally used as:
Insurance Expense
The amount a company spends on insurance policies to cover various risks, recorded as an expense in the accounting period in which it is incurred.
Debit
An accounting entry that increases an asset or expense account, or decreases a liability or equity account.
Credit
In accounting, it refers to the entry that decreases assets or increases liabilities and equity on the company's balance sheet.
Collections
The act of seeking out the settlement of debts from businesses or individuals.
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