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Accounts Receivable
Money owed to a business by its customers for goods or services delivered but not yet paid for, represented as an asset on the balance sheet.
Unearned Revenues
Liabilities recognized when a company receives payment for goods or services yet to be delivered or performed.
Debit
An accounting entry that results in either an increase in assets or expenses or a decrease in liabilities, equity, or income.
Credit
The provision of resources (like money) by one party to another, where repayment is expected in the future, often with interest.
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