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Purchases On Account
Transactions where goods are bought and payment is deferred to a later date, often resulting in an accounts payable.
Accounts Payable Balance
The total amount of money a company owes to its suppliers or creditors for goods and services purchased on credit.
Unearned Revenue
Income received by a business for goods or services yet to be delivered or provided; also known as deferred revenue.
Prepaid Expense
Payments made beforehand for products or services that will be provided at a later date.
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