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Ledger
A book or collection of financial accounts in which transactions are recorded.
Journal
A chronological record of all financial transactions, used as the initial place of entry for such transactions in the accounting system.
Liabilities
Financial obligations or debts that a business owes to others, which must be settled over time through the transfer of economic benefits.
Capitals
Financial assets or the financial value of assets, such as cash and securities, owned by a business.
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