Examlex
The Ohio State University and University of Michigan models are different in that the University of Michigan model:
Journalize
The process of recording business transactions in a journal, the first step in the accounting cycle.
Replenishment
The process of refilling inventory levels to ensure sufficient stock is available for future sales or production demands.
Bank Reconciliation
The process of comparing and contrasting the bank statement with a company's financial records to identify any discrepancies.
Bank Service Charges
Fees charged by banks for various services such as account maintenance, transactions, or overdrafts.
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