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Whenever you click the Save button on the Quick Access Toolbar or press the ____ keys,the workbook file is updated to reflect the latest content.
Adjusting Entry
A journal entry made in accounting records to update the balances of accounts at the end of an accounting period.
Bad Debt Expense
An estimate of receivables that a company does not expect to collect, recognized as an expense in the income statement.
Open Account
A type of credit arrangement where goods and services are delivered with the understanding that payment will be made at a later date.
Interest-Bearing Note
A debt instrument in which the borrower promises to pay the lender a fixed amount of interest in addition to repaying the principal.
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