Examlex
Redbox has established outlets in the simulated environment of Second Life. Your ____ is able to rent a movie from a Redbox.
Debits
Entries in accounting that increase an asset or expense account, or decrease equity, liability, or revenue accounts.
Credits
Accounting entries that represent an increase in liabilities or revenues, or a decrease in assets or expenses.
Adjusting Entries
Adjusting entries are journal entries made in an accounting period's end to allocate income and expenditures to the period in which they actually occurred.
Chart of Accounts
A structured list detailing a company's financial accounts, categorized to facilitate the organization and reporting of financial transactions.
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