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Identify the following terms.
-Theravada
Accounts Payable
Financial obligations a company has to its suppliers, recorded as liabilities on the business’s financial statement.
Cash
A form of currency that represents immediate purchasing power and liquidity.
Correcting Entry
A journal entry made to amend an error in the accounting records.
Unearned Service Revenue
Liabilities arising when a business receives payment for services that have not yet been performed, recognized as revenue over time as services are provided.