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Identify briefly each of the following: T'ai Tsung, Empress Wu, Ming-huang, and Lady Yang.
Journal Entries
Records in accounting that document every financial transaction affecting the accounts of a business, used to track and manage financial activities.
Note Payable
A written promise to pay a specified amount of money, typically with interest, by a certain date.
Decrease Assets
A reduction in the value or quantity of the assets owned by a company or individual.
Prepaid Insurance Account
An asset account on the balance sheet representing insurance premiums that have been paid in advance and are gradually expensed over the coverage period.