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Kevin used to cry, whine, throw temper tantrums, and eventually start screaming in the department store whenever he wanted a toy. His mother would resist initially but when he would start screaming she would give in. Eventually, Kevin started with the screaming to get his toy. Kevin is demonstrating
Journal Entry
A record in the books of accounts that documents a financial transaction, showing the accounts and amounts debited and credited.
Prepaid Insurance
An asset account that represents payments made in advance for insurance coverage, which has not yet expired.
Normal Balances
The typical sides (debit or credit) where increases to accounts are recorded in double-entry bookkeeping.
Debit Balance
A debit balance is the remaining amount in a financial account that occurs when total debits exceed total credits.
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