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Discuss five key provisions of the USA Patriot Act.
Merchandise Inventory
Merchandise inventory represents the goods a company has in stock that are ready to be sold in the normal course of business.
Accounts Payable
Accounts payable are liabilities representing the amounts that a company owes to creditors for purchases or services rendered that have not yet been paid.
Supplies Expense
The cost associated with using up supplies during an accounting period, which is recorded as an expense.
Merchandise Inventory
The total value of a company's goods available for sale to customers, typically recorded as an asset on the balance sheet.
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