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Contrails:
Journal Entries
The record of financial transactions in an accounting system, used to transfer information to the ledger, showing detailed information regarding date, accounts affected, and amounts.
Posted Correctly
The action of accurately recording transactions in the appropriate accounts in an accounting system.
Ledger
A book or digital record in which a company maintains its accounts, tracking all financial transactions systematically.
Financial Statements
Financial statements are formal records of the financial activities and position of a business, person, or entity, providing key information on its financial health.
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