Examlex
Professor Dorrough explains to her class that the purpose of the eye movements during REM sleep is
Total Credits
The sum of all credit entries recorded in a financial account, representing increases in assets or decreases in liabilities.
Balance Sheet Columns
The sections in a balance sheet that categorize assets, liabilities, and equity accounts to display the financial position of a business at a certain point in time.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the accounts for the next accounting period.
Permanent Accounts
Balance sheet accounts whose balances are carried forward to the next accounting period, including assets, liabilities, and equity accounts.
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