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Differential media:
Deposits In Transit
Deposits in transit are amounts that have been received and recorded by a company, but have not yet been processed or acknowledged by the bank.
Deductions
Specific amounts subtracted from gross income to reduce the taxable income, including allowances, expenses, and exemptions.
Voucher Register
A journal that records all vouchers once they are approved, which includes amounts to be paid, to whom, and the accounts affected.
Approved Vouchers
Documents that have been verified and authorized for payment because they accurately reflect the goods or services received.
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